The Salvation Army is an example of a(n)
Nonprofit, or not-for-profit, firms
A)maximize revenue instead of profit
B)minimize cost rather than maximize profit
C)often pursue goals other than profit maximization
D)pursue profit as their main goal despite their name
E)have no incentive to produce efficiently
Which of the following is not a not-for-profit institution?
A)Columbia Broadcasting System (CBS)
B)American Red Cross
D)a public library
E)a typical college or university
Household production still exists because it often requires fewer specialized resources than market production does.