Question

In: Economics

Indicate whether you agree or disagree with the following statement: "The goal of the firm is...

Indicate whether you agree or disagree with the following statement: "The goal of the firm is to maximize its profit." Support your position with argument, examples and research.

Solutions

Expert Solution

The Conventional economic theory assume profit maximization as the only objective of business firms.


Related Solutions

Indicate whether you agree or disagree with the following statement: "The goal of the firm is...
Indicate whether you agree or disagree with the following statement: "The goal of the firm is to maximize its profit." Support your position with argument, examples and research
Indicate whether you agree or disagree with the following statement and explain why. “Globalization encourages child...
Indicate whether you agree or disagree with the following statement and explain why. “Globalization encourages child labor.”
C. For each of the following situations, (1.) indicate whether you agree or disagree with the...
C. For each of the following situations, (1.) indicate whether you agree or disagree with the financial reporting practice employed, then (2.) name the accounting concept being properly employed, or name the accounting concept being violated. (more than one answer may be appropriate) Loser Corporation did not disclose that it was the defendant in a material lawsuit because thetrial was still in progress. Alliant Semiconductor Corporation files quarterly and annual financial statements with the SEC. Reliant Pharmaceutical Inc. issues financial...
Use a diagram to discuss whether you agree or disagree with the following statement. “In an...
Use a diagram to discuss whether you agree or disagree with the following statement. “In an emission trading scheme, a unique, efficient and equitable allocation of emission permits will be achieved regardless of how emission permits are initially allocated.”
Indicate whether you agree or disagree with the following statements and explain your reasoning. a)    Related...
Indicate whether you agree or disagree with the following statements and explain your reasoning. a)    Related party transactions require proper identification and consideration when considering risk. However, there is no requirement to disclose related party transactions unless they have an impact on material misstatements. b)    When assessing fraud risk, auditors should adopt an attitude of professional scepticism to ensure that any indicator of a potential fraud is properly investigated. c)    The responsibility for preventing and detecting fraud rests with those...
For each of the following independent statements, state whether you agree or disagree with the statement...
For each of the following independent statements, state whether you agree or disagree with the statement and fully explain your answer. Required a.        The level of audit risk is low when inherent risk is low. b.        When the auditor assesses control risk and inherent risk as high, the acceptable detection risk is        low. c.        When an audit firm issues the correct opinion on the financial statements under audit, it still has    engagement risk. d.        If...
Explain whether you agree or disagree with the following comments: “The Statement of Cash Flows is...
Explain whether you agree or disagree with the following comments: “The Statement of Cash Flows is overrated. What is it really telling me that I can’t just find by looking at this year’s Balance Sheet and seeing how the account balances changed from last year?”
Use a diagram to discuss whether you agree or disagree with the following statement.“When there are...
Use a diagram to discuss whether you agree or disagree with the following statement.“When there are two firms which can control emissions at different marginal abatement costs, a uniform emission standard is a cost-effective way to achieve the emission reduction target.”
For each of the following independent statements, state whether you agree or disagree with the statement...
For each of the following independent statements, state whether you agree or disagree with the statement and fully explainyour answer. Required a.        Each of the following changes (considered individually, and holding other things constant) can be expected to decrease the level of detection risk associated with the auditor's substantive tests: decreasing materiality reducing the level of audit risk b.        Auditing standards require that if an auditor plans to assess control risk as high, internal controls must be of higher quality and the...
Explain whether you agree or disagree with the following statement: The education of children is obviously...
Explain whether you agree or disagree with the following statement: The education of children is obviously a public good. Educated people are more productive workers and usually have a higher degree of life-satisfaction and welfare. They are more likely to be politically engaged and have a higher sense of civic awareness. Finally, they are more likely to raise children with all these qualities. Therefore, providing education is a public good that should be supplied by the government. ?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT