It is towards consumer sovereignty, meeting their needs and wants, that producers must orient themselves. The firm enters the market with a price in mind but not knowing the true market price. Accordingly this producer has already committed to producing X units in this particular production cycle. This is the beginning of the drama that unfolds. In this opening act adjustments will need to be made. As the drama unfolds we encounter the unpredictable features of the market: uncertainty and changes taking place over time. It is an unending drama, richly human.
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