Substitutes in production suggest that a producer with a fixed set of resources initially will need to reduce production of one good when the producer:
A)produces less of the other good.
B)produces more of the other good.
C)has an increase in resources.
D)produces more of the other good and has an increase in resources.

Question

Quizplus · Accepted Answer

Substitutes in production mean that resources can be used to produce either of two goods. If a producer uses more resources to produce one good, they must reduce the production of the other good due to the fixed set of resources.

Substitutes in Production Suggest That a Producer with a Fixed