The most commonly accepted objective for a firm is

Question

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Maximizing economic profit is the most commonly accepted objective for a firm because it takes into account both explicit and implicit costs. This means that the firm is not only focused on generating revenue, but also on ensuring that its costs are minimized, resulting in the highest possible profit. Staying in business at all costs, maximizing total revenue, and minimizing variable cost outlay are all important goals for a firm, but economic profit is considered the primary objective.

The Most Commonly Accepted Objective for a Firm Is