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Traditional economic theory has assumed that the typical firm has a single objective?
Maximize its profits
A firm jointly owned and run by two or more people who share all profits and losses is a?
A firm jointly owned and run by two or more people who share profits and losses is a partnership.
A firm will maximize profits by employing the quantity of each input where the marginal does what?
revenue equals the price of each input
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profits?
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
Why can firms not always reduce prices until they increase sales and profits?
if marginal production costs exceed marginal revenues, the firm will suffer losses, not profits.
Traditional economic theory has assumed that the typical firm has a single objective?
Maximize its profits
A firm jointly owned and run by two or more people who share all profits and losses is a?
A firm jointly owned and run by two or more people who share profits and losses is a partnership.
A firm will maximize profits by employing the quantity of each input where the marginal does what?
revenue equals the price of each input
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profits?
Explain how monopoly causes an inefficient allocation of resources when the competitive firm does not even when both seek to maximize profit
A firm owned by a single person who shares profits and losses with no one else is a?
sole propietorship
Why can firms not always reduce prices until they increase sales and profits?
if marginal production costs exceed marginal revenues, the firm will suffer losses, not profits.
What does the marginal principle of economics state?
The marginal principle will tell us that a firm will maximize it's profits by choosing a quantity at which, price=marginal costs.
What fundamental goals of risk management?
The fundamental goal of risk management is to minimize the cost of risk and to maximize a firm's value (in the context of business risk management).
What is fundamental goal of risk management?
The fundamental goal of risk management is to minimize the cost of risk and to maximize a firm's value (in the context of business risk management).
What is the fundamental goal of risk management?
The fundamental goal of risk management is to minimize the cost of risk and to maximize a firm's value (in the context of business risk management).
What services do the company MFS offer?
MFS is a money management and banking firm. They primarily focus on market research and expansion for companies in order to maximize their clients profits.
Define secret partner in a partnership firm with explanation?
This type of partner contributes capital and takes active part in the management of the firm's business.He shares in the profits and losses of firm and his liability is unlimited.However, his connection with his firm is not known to the outside world.
