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21 June, 17:04

Suppose that a more efficient way to produce a good is discovered, thus lowering production costs for the good. this will cause a (n) :

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  1. 21 June, 18:51
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    Assuming that the price sold in the market for that certain product does not change, then the profit for that company increases. This is why manufacturing companies hire engineers or research analysts to propose efficient production methods that will cut on production costs and still deliver consumer-satisfactory products.
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