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Economics Theme 3 > Objectives > Flashcards

Objectives Flashcards

1
Q

Profit maximisation

A

MR=MC

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2
Q

Revenue maximisation

A

MR = 0

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3
Q

Sales maximisation

A

AR = AC where normal profits are made

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4
Q

Profit satisficing

A

When a firm sacrifices profits in order to satisfy stakeholders

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5
Q
A
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Economics Theme 3 (3 decks)

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