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What do you do with your production

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You are a manager of a small US firm that sells nails in a competitive US market (i.e., the nails you sell are a standardized commodity (homogenous); stores view your nails as identical to those available from hundreds of other firms). You are concerned about two events you recently learned about through trade publications: (1) the overall market supply of nails will decrease by 2 percent, due to exit by foreign competitors; (2) due to a growing US economy, the overall market demand for nails will increase by 2 percent. Based on this information, what do you do with your production? Explain.

Reference no: EM132173655

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