Production plans You manage a US based company that makes shoe laces that you sell in a highly compe

Production plans

You manage a US based company that makes shoe laces that
you sell in a highly competitive market (your shoe laces are considered a
standardized commodity by your customers) Your marketing staff predicts that
in the upcoming year overall industry supply will fall by at least 4% because
some of your US competitors cannot continue to compete with foreign
suppliers, but market demand will rise at least 2% How, if at all, should you
alter your production plans for the coming year?