In a competitive market economy firms will select the least-cost production technique because?

In a competitive market economy, firms select the least-cost production techniquebecause: A. such choices will result in full employment of available resources.

Because of the free-rider problem: the market demand for a public good is nonexistent or understated. ... . In a competitive market economy, firms will selectthe least-cost production technique because, to do so will maximize the firms profits.

Because it links the production and consumption sectors, marketing can ... such as rice mills or export firms, many farm-level buying agents will offer the farmer ... This price sends signals to consumers about the resource costs of supplying the ... For all of its efficiency in allocating economic resources, a competitive market ... .

Imperfectly Competitive Markets for Factors of Production ... Define the long-run average cost curve and explain how it relates to economies and diseconomies or scale. ... First, the firm can select the mix of factors it wishes to use. ... Because all costs are variable, the structure of costs in the long run differs somewhat from ...

is irrelevant because the economy is capable of producing a larger total output. will result in the maximum rate of growth available to this economy. ... In acompetitive market economy, firms select the least-cost production techniquebecause:.

All products are produced to satisfy the needs, wants, and demands of ... . consider are the target market, product demand, competition, economic conditions, and ... . Firms can also improve their images in international marketsbecause of the ... .. Companies that adopt a low-cost supplier strategy are usually characterized by ...