Ceteris paribus,if the cost of paper increases for book publishers,in order to maximize profits,book publishers should:

Question

Quizplus · Accepted Answer

When the cost of paper increases, it means the cost of production has increased for book publishers. Therefore, in order to maximize profits, book publishers should decrease output to reduce their production costs. By decreasing output, they will be able to maintain their profit margin despite the increase in production costs.

Ceteris Paribus,if the Cost of Paper Increases for Book Publishers,in