Which factors must a producer consider when deciding what good to supply? check all that apply. the appeal of the good to family members the elasticity of a good being supplied competition within the market the ability to produce the good efficiently the ability to produce a good of low quality

The correct answers are the following

These three factors affect the decision on whether to supply a good or not because they affect either the amount of the income or the costs of the potential producer.

The elasticity of demand of that good determines the sensibility of its consumers when there is a modification in its price. Therefore, depending on the elasticity of the demand of the product a certain price range can be admitted and this in turn affects the amount of income that a potential producer. Competition within the markets also affects potential income because depending on the intensity of competition the potential producer would be able to access to different shares of the demand.

The more efficiently that is able to produce, the lower the production costs would be and therefore the higher the profits of the potential producer.

Competition within the market.

The ability to produce the good efficiently.

The elasticity of a good being supplied.

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