3.2 - Business Objectives Flashcards
1
Q
Where is profit maximising point?
A
Where MC=MR
2
Q
Where is Revenue maximising point?
A
MR=0
3
Q
Where is sales maximising point?
A
AC=AR
4
Q
What is profit satisficing?
A
Managers making enough profit to keep owners happy whilst following other objectives (such as their own benefits)
