Economists assume that the goal of the firm is to maximise total revenue. break even in the long run. minimise opportuni
Posted: Sun Jun 05, 2022 12:00 pm
- Economists Assume That The Goal Of The Firm Is To Maximise Total Revenue Break Even In The Long Run Minimise Opportuni 1 (26.76 KiB) Viewed 31 times
- Economists Assume That The Goal Of The Firm Is To Maximise Total Revenue Break Even In The Long Run Minimise Opportuni 2 (33.19 KiB) Viewed 31 times
Economists assume that the goal of the firm is to maximise total revenue. break even in the long run. minimise opportunity costs. maximise profits.
If a firm in a perfectly competitive industry raises its price above the market price all other firms in the industry will follow. it's sales will drop to zero. it's sales will rise slightly. it's sales will stay the same.