What is one way to lower the cost of production?

Question

What is one way to lower the cost of production?

Use more resources

Create new technologies

Hire additional workers

Offer discount prices

Answer 1

One way to lower the cost of production is to use more resources efficiently. This could involve reducing waste, optimizing the use of raw materials, and implementing more sustainable practices. By maximizing the efficiency of resource utilization, businesses can reduce their production costs and increase their bottom line.