What is a firm's fundamental goal and what happens if the firm doesn't pursue this goal?
What will be an ideal response?
A firm's fundamental goal is to maximize its profit. If the firm fails to maximize profit it is either eliminated or bought out by other firms maximizing profit.
Economics
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A market economy produces the optimal amount of each good at least cost where:
A) P > ATC. B) P = ATC. C) P > AVC. D) P = MR.
Economics
A tax is imposed on employers and workers that are used to fund Social Security and Medicare. This tax is sometimes referred to as
A) the ACIF. B) the Income Security Tax. C) the federal income tax. D) the payroll tax.
Economics