For a Firm to Maximize Its Profitability,it Is Necessary That

question 114

Multiple Choice

For a firm to maximize its profitability,it is necessary that it

• A)creates products similar to the products of its competitors.
• B)does not configure its internal operations to reduce costs.
• C)minimizes the value of the consumer surplus.
• D)picks a position on the efficiency frontier that is viable.
• E)strips all the value out of its product offering.

---

Definitions:

Market Strategy

A comprehensive plan that outlines how a business will reach potential consumers and turn them into customers of their products or services.

Social Responsibility

The ethical framework suggesting that individuals or organizations have an obligation to act for the benefit of society at large.

Demand Legitimacy

The perceived appropriateness and justification of a demand or request made by stakeholders based on societal norms and values.

Stakeholders

Individuals or groups with an interest or concern in the success of an organization, project, or endeavor, including employees, customers, investors, and the community.