When firms experience an increase in the cost of producing their goods and services they will...

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When firms experience an increase in the cost of producing their goods and services they will want to charge__prices. As a re

business economics

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Answer 1

Answer #1

Answer:

Correct option is "higher:decrease:decrease".

Explanation:

With an increase in the cost of production, producers increases selling price of their goods and services. With increase in price purchasing power and demand of the goods and services declines. So, firms have to decrease their production with the fall in demand of goods and services.

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Answer 2

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