To earn the greatest possible profit,a firm must
A) Maximize revenue less cost
B) Minimize revenue less cost
C) Maximize quantity at any price
D) Maximize price at any quantity

Question

Quizplus · Accepted Answer

To earn the greatest possible profit, a firm must maximize revenue less cost. This means that a firm should focus on increasing the revenue generated from sales while also minimizing the costs associated with producing and selling the product. This approach ensures that the firm is generating the highest possible profit from each unit sold.

To Earn the Greatest Possible Profit,a Firm Must