One strategy used by producers to reduce uncertainty is:

Question

Quizplus · Accepted Answer

Diversification is a strategy used by producers to reduce uncertainty by spreading their investments and resources across different products, markets, and industries. By diversifying, they can mitigate the risks associated with any one product or market, and increase the chances of overall profitability. Price elasticity of demand, profit-maximization, and the Law of Demand are concepts that relate to pricing and demand, but do not directly address the issue of uncertainty reduction.

One Strategy Used by Producers to Reduce Uncertainty Is