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Profit maximization is achieved when a firm increases its revenue while minimizing costs. This can be done by optimizing production processes, reducing waste, and improving efficiency to lower operational expenses. Additionally, firms can enhance pricing strategies, expand market reach, and innovate products to attract more customers. Ultimately, maintaining a balance between costs and revenues enables businesses to maximize their profits effectively.

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3mo ago

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What are the difference between value maximation and profit maximation?

Value maximization and profit maximization are very much related, the main difference being- value maximization means increases in owners' wealth achieved by maximizing of the value of a firm's common stock. profit maximization is the process by which a firm determines the price and output level that returns the greatest profit. the other difference among the two could be sited as- value maximization is seen as long term objective of a firm, whereas profit maximization is generally a short term objective.


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