At the micro-economic level, the following factors would MOST LIKELY help a firm to increase production.
- A) Investment in new technology
- B) Hiring more employees
- D) Increased education of labor force
- At the macro-economic level, an increase in demand is a factor that will lead to more production by the industry.
- At the firm-level (micro-economic), a decrease in demand or an increased foreign competition cannot lead the firm to increase production. Instead, they discourage more production of goods and services.
- To increase production, a firm must invest in new technology and hire more. The latter will be boosted by an increase in labor education.
Thus, the factors that lead to increased production by a firm are A), B), and D).
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