Examlex
What do we call norm violations that are codified into law?
Profit
The profit achieved when the revenue generated by a business operation is greater than the expenses, costs, and taxes required to maintain that operation.
Profit-Maximizes
Refers to the strategy or the condition where a firm adjusts its production and pricing to achieve the highest possible profit.
Profit
The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
Profit-Maximizes
A strategy or behavior adopted by firms aiming to achieve the highest possible profit given their resources and market conditions.
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