Producers do not have to monitor their production costs because they can always pass off higher costs of production in the form of higher prices.

Name: Producers do not have to monitor their production costs because they can always pass off higher costs of production in the form of higher prices.
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Question

Quizplus · Accepted Answer

Producers must monitor production costs as they cannot always pass off higher costs to consumers due to market competition and demand elasticity.

Producers Do Not Have to Monitor Their Production Costs Because