Profit maximization means is BEST described by which of the following?
A) obtaining the largest profit possible
B) having your supplier carry your inventory
C) building the lowest cost product possible
D) selling your product at the highest price possible

Question

Quizplus · Accepted Answer

Profit maximization refers to obtaining the largest profit possible, which means maximizing the revenue earned from sales and minimizing the cost of goods sold. While B and C may be components of achieving greater profits, they do not define profit maximization. Option D mentions selling at the highest price, which may not necessarily lead to profit maximization if it reduces the number of units sold.

Profit Maximization Means Is BEST Described by Which of the Following