Which most likely results from producers engaging in specialization? Producers reduce their costs. Producers increase their market share. Producers decrease the materials needed for production. Producers always offer more competitive pricing.

Question

Guest

Business

6 July, 02:15

Which most likely results from producers engaging in specialization? Producers reduce their costs. Producers increase their market share. Producers decrease the materials needed for production. Producers always offer more competitive pricing.

+1

Answers (1)

Know the Answer?

Armando Weber · Answer 1

Producers reduce their costs most likely results from producers engaging in specialization

Explanation:

When a firm concentrates in using all its resources that are currently available for the production of a particular type of product or services refers to the process of specialization. This process will reduce the production for other producers which will result in the reduction of cost for the production of that particular product.

The specialization is focused by the producers for the purpose of gaining the comparative advantage. This will also increase the quantity of the goods and the productivity will also increase. Producers reducing their cost of products produced by them is the result from the producers who engage in specialization process.