Question

multiple choice question what will happen to a firm that finds a way to lower production costs through better technology or improved organization? it will experience economic losses. its profits will increase. it will fail to compete and will be forced out of the industry. its demand curve will shift left. need help? review these concept resources. read about the concept

Explanation:

Profit is revenue minus cost. Lowering production costs while revenue remains the same or increases leads to higher profit. A firm with lower costs has a competitive edge, won't face losses or be forced out, and its demand curve isn't directly affected by cost - cutting in this way.

Answer:

Its profits will increase.