If a firm wants to cut its costs through more efficient production,we should assume that the firm is trying to:

Question

Quizplus · Accepted Answer

By cutting costs through more efficient production, a firm can increase its profits without needing to raise prices or increase sales. Therefore, the firm's goal in this case is to increase profitability, not eliminate competition or gain control over the market. Firing employees or buying back stock would not necessarily lead to more efficient production and cost savings.

If a Firm Wants to Cut Its Costs Through More