Profit-Maximizing Firms Want to ________ the Difference Between Total Revenue

question 338

Multiple Choice

Profit-maximizing firms want to ________ the difference between total revenue and total cost.

• A) minimize
• B) maximize
• C) equalize
• D) eliminate

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Definitions:

Moral Capabilities

The capacities or abilities of individuals to make ethical choices, understand moral principles, and act in ways that are consistent with moral values.

Moral Persons

Beings capable of making ethical decisions and recognizing moral claims upon their actions.

Consequentialist Thought

Ethical philosophy considering the consequences of actions as the primary basis for any judgment about the rightness or wrongness of those actions.

Utilitarian Thought

A philosophical belief that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.