1) Profit maximisation.
The standard assumption made by economist is that firm will seek to maximise their profit that is maximise the gap between the firm's total revenue and total cost (including normal profit.) A firm making the minimum level of normal profit is said to be producing the break even output. Firms will want to make abnormal profit as a reward for managing the resources and taking business risks.
2) Sales revenue maximisation A firm may be prepared to accept a lower price and produce above the profit maximising output in order to increase its market share in a growing market. This is a penetration pricing policy.
A firm choose to maximise its sales revenue would raise output beyond MC=MR until MR had fallen to zero. Extra sales after this would contribute nothing to total revenue, therefore it is at maximum.
Without Aims and Objectives how do you know where your business is heading for the future. You need it achieve your aims of the business.
yes
A business without aims is a business planning to fail
Economic growth : Fall in tax increases the disposable income of the people therefore increasing their purchasing power leading to increased GDP Employment :decrease in tax causes firms to produce mo
Economic growth : Fall in tax increases the disposable income of the people therefore increasing their purchasing power leading to increased GDP Employment :decrease in tax causes firms to produce mo
to create greater competiton in marketreduce government subsidiesreduce costs to consumersmore firms join the market
The concentrated strategy, which aims to serve a large share of one or a very few markets, is best suited for firms with limited resources
There are approximately 1700 firms traded on the FTSE. The number of firms traded changes daily. New firms are added as some firms drop off the exchange.
what is the key aims of ohs legislation
The Jonas Brothers do not have AIMS.
Objectives and aims
what are the aims and objectives of waitrose?
Without Aims and Objectives how do you know where your business is heading for the future. You need it achieve your aims of the business.
Aims are broader and wider.with the help of objectives we achieves our aims and objectives are framed if we have aim. objectives are not wide as aims it frames according to aims.
yes
what is the key aims of ohs legislation
the aims are to get a better government