The Standard Assumption in Economic Analysis Is That Firms Attempt

question 31

Multiple Choice

The standard assumption in economic analysis is that firms attempt to maximize

• A) sales.
• B) profits.
• C) costs.
• D) reliability.
• E) production.

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Definitions:

Interests

Refers to the preferences or desires individuals or groups have, which often guide their actions and decisions.

Positions

The locations or roles assigned to individuals or things in relation to others within a structure, system, or context.

BATNA

Best Alternative To a Negotiated Agreement; the best course of action that a party can take if negotiations fail and an agreement cannot be reached.

Negative Assessment

A critical evaluation or judgment that implies a lack of success, quality, or desirability.