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Economics Theme 3 > 3.2 Business Objectives > Flashcards

3.2 Business Objectives Flashcards

1
Q

Profit maximisation and its point on graph

A

when firms look to maximise their profits by operating at MR=MC

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2
Q

Revenue maximisation and its point on graph

A

firms aim to maximise their revenue
MR=0

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3
Q

Sales maximisation and its point on graph

A

Firms aim to maximise their sales
AC=AR

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Economics Theme 3 (6 decks)

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