Economists assume that firms try to _____. Other theories suggest that firms might, among other things, try to _____.
A) maximize revenue; maximize profits
B) maximize profits; maximize sales
C) maximize market share; maximize satisfactory profits
D) maximize satisfactory profits; maximize market share
Correct Answer:
Verified
Q22: A customer slipped and fell on a
Q23: Ian owned his own dry cleaning shop,
Q24: Profits are equal to the difference between
Q25: Economists explicitly assume that the primary objective
Q26: Most economists assume that firms behave _
Q28: The price of a mango is $2
Q29: All of these are explicit costs, EXCEPT
A)
Q30: Economic profit is total revenue minus
A) implicit
Q31: Which is an implicit cost?
A) material cost
B)
Q32: Economic costs are the sum of _
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