Business, 05.12.2019 18:31 smiley29162
The assumption of profit maximization is frequently used in microeconomics. however, do firms always seek to maximize profit? firms
a. do not always maximize profit because firms may instead engage in altruisticaltruistic behavior that reduces profit.
b. do not always maximize profit because managers may instead be more concerned with revenue maximizationrevenue maximization. your answer is correct.
c. do not always maximize profit because many firms survive in competitive industries by instead focusing on revenue growthrevenue growth.
d. maximize profit because they have perfect information.
e. maximize profit because they are more concerned about longer-run profit than short-run profit.
are owners of small firms or managers of large firms more likely to seek to maximize profit?
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The assumption of profit maximization is frequently used in microeconomics. however, do firms always...
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