What does a firm maximize? A simple explanation with regard to economic growth
The purpose of this study is to explain the following proposition: Profit maximization objective is only an assumption, which is valid only when marginal cost is zero; a firm should maximize its total sales rather than its profit when marginal cost is not equal to zero. Using simple logical conseque...
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| Format: | Article |
| Language: | English |
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SAGE Publishing
2018-12-01
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| Series: | International Journal of Engineering Business Management |
| Online Access: | https://doi.org/10.1177/1847979018815296 |