Economists normally assume that the goal of a firm is to
(i)earn profits as large as possible, even if it means reducing output.
(ii)earn revenues as large as possible, even if it means reducing profits.
(iii)minimize costs, regardless of profits.
A)(i) only
B)(i) and (ii) only
C)(ii) and (iii) only
D)(i), (ii), and (iii)

Question

Quizplus · Accepted Answer

Economists typically assume that the primary goal of a firm is to maximize profits, which aligns with choice (i) only.

Economists Normally Assume That the Goal of a Firm Is