If firms do not use marginal cost and marginal revenue concepts, they will not be able to arrive at (or close to) their profit- maximising output.
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Q19: Firms build in organisational slack in order
Q20: Theories that attempt to predict the actions
Q21: Firms that satisfice will typically
A) be more
Q22: If firms 'satisfice', this means that
A) long-
Q23: If a firm uses accountancy cost concepts
Q25: The fact that firms may not maximise
Q26: The principal- agent problem occurs when managers
Q27: Asymmetric information will only ever be damaging
Q28: Williamson argues that managers will pursue their
Q29: The (profit- satisficing) sales revenue- maximising output
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