Economists normally assume that the goal of a firm is to
(i) sell as much of their product as possible.
(ii) set the price of the product as high as possible.
(iii) maximize profit.
(i) sell as much of their product as possible.
(ii) set the price of the product as high as possible.
(iii) maximize profit.
举一反三
- In the early stages of a new venture, the goal of product development and design should be to determine the () as comprehensively as possible, and to test and verify them as quickly as possible. A: minimum viable business product B: product design plans C: important assumptions D: business models
- What should you do after you have chosen a product to sell? A: Get as much information about the product as possible. B: Send e-mails to the potential customers. C: Create a website. D: Apply for loans to run your business.
- Which are the possible ways to protect our environment? A: To choose energy-conserving electrical appliances. B: To choose freon-free products. C: To take a bus as much as possible. D: To take a car as much as possible.
- Assume that firms in an oligopoly are currently colluding to set price and output to maximize total industry profit. If the oligopolies are forced to stop colluding, the price charged by the oligopolies would ________ and the total output produced will ________.
- Price discrimination occurs when: A: the same product is sold by a firm to different consumers for different prices. B: consumers sell products to one another. C: the same product is produced by a firm with different costs of production. D: a firm charges the same price to consumers with different levels of income.