Mario has a company that produces plastic freezer bags.His company objective is to maximize

Question

Quizplus · Accepted Answer

Maximizing economic profits, which is the difference between total revenue and total cost, is the best choice for Mario's company to achieve its objective. It allows the company to earn the highest possible return on its investment and resources used in production. Maximizing revenues may lead to higher costs and lower profits, while maximizing total out-of-pocket costs or opportunity costs of each factor of production may not be efficient or effective in achieving the company's objectives.

Mario Has a Company That Produces Plastic Freezer Bags