Question
In: Economics
Most economists assume that the goal or objective of business firms is to
Most economists assume that the goal or objective of business firms is to
be socially responsible
maximize size.
maximize profits.
satisfice.
maximize sales.
Solutions
Expert Solution
According to us a business should be like who is beneficial for the society and welfare for other as well
But if we talk in terms of economist then the main goal of a firm is to maximize the profit
Whenever the business starts then and they try to maximize the revenue by minimising their cost so that have a good amount of profit
since profit is the difference of total revenue and total cost.
Every business firm has not goal to maximize in size or socially responsible
Hence the correct answer is option C
Rahul Sunny answered 2 years agoRelated Solutions
Economists assume that firms have a goal to maximize profits. This is a reasonable assumption also...
Economists assume that firms have a goal to maximize profits. This
is a reasonable assumption also for not-for-profit organizations
True or False?
What do economists normally assume to be the goal of a firm?
What do economists normally assume to be the goal of a firm? Select one: a. to maximize sales revenue b. to maximize profits c. to sell products at the highest prices possible d. to sell as many units of output as possible
Managerial economists, as well as business economists, often are hired as consultants to firms regarding the...
Managerial economists, as well as business economists, often are
hired as consultants to firms
regarding the appropriate pricing policy and strategy to utilize so
as to maximize economic
profits. Sometimes firms utilize what they believe is an optimal
pricing policy and strategy, only
to discover that they are in fact not maximizing their economic
profits, and hence not really
adding value to the business.
For each of the following scenarios,
provide advice on the appropriate pricing policy and
strategy, including...
Managerial economists, as well as business economists, often are hired as consultants to firms regarding the...
Managerial economists, as well as business economists, often are
hired as consultants to firms
regarding the appropriate pricing policy and strategy to utilize so
as to maximize economic
profits. Sometimes firms utilize what they believe is an optimal
pricing policy and strategy, only
to discover that they are in fact not maximizing their economic
profits, and hence not really
adding value to the business.
For each of the following scenarios,
provide advice on the appropriate pricing policy and
strategy, including...
The overall corporate objective of most firms is to maximize the value of the firm for...
The overall corporate objective of most firms is to maximize the
value of the firm for the owners. Apparently in their bid to
achieve the above objective, management of firms makes decisions as
to choice of best alternatives available, use and/or allocate
resources among available alternatives as well as engage in
exchanges and/or operations and other activities. Required: a)
Concisely outline the key decision areas of concern that financial
managers of corporate organizations mostly focus on.
b) How are the...
Economists normally assume that the goal of a firm is to maximize its total revenue maximize...
Economists normally assume that the goal of a firm is to maximize its total revenue maximize profits minimize costs sell as much as possible
A commonly cited business goal is profit maximization. Why is this not the most precise goal...
A commonly cited
business goal is profit maximization. Why is this not the most
precise goal of financial management? Referencing a real-life
example, why should a corporation not do anything and everything to
maximize owners’ wealth?
Economists believe that many or even most mergers (or acquisitions) between two purely vertically related firms...
Economists believe that many or even most mergers (or
acquisitions) between two purely vertically related firms will not
have negative impacts on consumers and may benefit consumers. Other
than economies of scale or scope that is also present with
horizontal mergers, what might explain this often-favorable view of
vertical mergers?
Most economists assume that the explanation of the Industrial Revolution is bad institutions in all pre-industrial...
Most economists assume that the explanation of the Industrial
Revolution is bad institutions in all pre-industrial societies.
Using the material from this course explain why you do, or do not
believe this standard view. Answers will receive extra credit for
being well organized, coherent, and grammatical, and for using
specific factual historical examples.
1. Explain at least two reasons why economists assume most goods and services are convex to...
1. Explain at least two reasons why economists assume most goods
and services are convex to the origin.
2. Use the graph to explain each statement about interior
solutions for imperfect substitutes below. In your explanation,
make sure you are comparing the marginal utility per dollar
spent on each good.
a.) at point a, the consumer should increase their consumption
of ?? and decrease their consumption of ??.
b.) at point b, the consumer should not change their
behavior.
c.)...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- For Questions 1-3: consider the following code: public class A { private int number; protected String...
- You are tasked with assessing the health department’s intervention program in preventing recurrence of acute alcohol...
- Compare the MOSFET, JFET , and BJT and identify the reasons these devices behave differently. What...
- How would you use SAS Enterprise Miner to create a neural network model of your example?
- Explain the use of neural networking modeling in predictive analytics.
- Current Market Mix of Netflix, as detail as possible, please.
- This is all one question, thank you so much in advance! You must evaluate a proposal...
ADVERTISEMENT