Firms Have the Option of Maximizing Sales Revenue or Maximizing

question 195

Multiple Choice

Firms have the option of maximizing sales revenue or maximizing profits.If a firm chooses to maximize sales, then it will produce

• A)more output and charge a lower price.
• B)the same output and charge a lower price.
• C)less output and charge a higher price.
• D)less output and charge a lower price.

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Definitions:

Variable Manipulation

The process of altering one or more variables in an experiment to determine its effects on a dependent variable.

Controlled Conditions

Specific parameters maintained during scientific research or experiments to ensure the validity and reliability of the results.

Independent Variable

In research and experimentation, the variable that is manipulated or changed to assess its effect on a dependent variable.

Extraneous Variable

Any variable that you are not intentionally studying in your experiment or test that could affect the outcome of your research.