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In: Economics

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

Solutions

Expert Solution

The correct option is B) maximize profits

Profit maximization describes when a business can sell a product so that the marginal revenue equals the marginal cost when the value of marginal cost is increasing.

Rahul Sunny answered 1 year ago
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