Firms are assumed to

Name: Firms are assumed to
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The primary goal of firms is to maximize profit, which is the difference between total revenue and total cost. While maximizing revenue or assets may be desirable, the ultimate goal is to generate the highest possible profit, making E the correct choice. A firm does not necessarily produce at the lowest point on its average total cost curve, as it may be able to increase profits by producing at a higher point due to market conditions or other factors.

Firms Are Assumed to