Economists Normally Assume That the Goal of a Firm Is

question 172

Multiple Choice

Economists normally assume that the goal of a firm is to earn
(i) profits as large as possible, even if it means reducing output.
(ii) profits as large as possible, even if it means incurring a higher total cost.
(iii) revenues as large as possible, even if it reduces profits.

• A)(i) and (ii) only
• B)(i) and (iii) only
• C)(ii) and (iii) only
• D)(i), (ii), and (iii)

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Definitions:

Homophobia

Prejudice, fear, or discrimination against homosexual individuals and homosexuality.

Cultural Definition

This encompasses the shared meanings, values, norms, and practices of a particular group that guide their behavior and interpretation of the world, often distinguishing one culture from another.

Sex/Gender Distinction

The differentiation between 'sex', typically referring to biological differences, and 'gender', which refers to the roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.

Binary Construction

A conceptual framework that divides things into two mutually exclusive categories, often used to describe simplified distinctions in society, such as male/female or right/wrong.