The assumed goal of the firms that operate in each of the four market structures discussed in the text is to maximize:
A)sales.
B)revenue.
C)profits.
D)price.

Question

Quizplus · Accepted Answer

The ultimate goal of any firm is to maximize its profits, which is the difference between total revenue and total cost. While firms in different market structures may adopt different strategies to achieve this goal, ultimately, maximizing profits remains the primary objective.

The Assumed Goal of the Firms That Operate in Each