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a lvl econs > 4B Objective of Firms > Flashcards

4B Objective of Firms Flashcards

1
Q

What is a firm’s traditional objective?
(Profit max)

A
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2
Q

Are firms always able to identify profit max price & output?

A
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3
Q

Describe revenue max (alt objective)

A
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4
Q

Describe profit satisficing (alt objective)

A
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5
Q

Describe market share dominance (alt objectives)

A
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