The goal of the business firm is maximization of ____, and the goal of the consumer is maximization of ____.
A)total sales; income
B)total profit; utility
C)total output; utility
D)total sales; utility

Question

Quizplus · Accepted Answer

The business firm's goal is to maximize profit, which is defined as total revenue minus total costs. The consumer's goal is to maximize utility, which is the satisfaction or happiness derived from consuming goods and services. Therefore, the best choice is B) total profit; utility.

The Goal of the Business Firm Is Maximization of ____