A firm's primary objective is to maximize profits; however, there are always two constraints:
A. cost and benefit.
B. supply and demand.
C. price and opportunity cost.
D. the cost of production and consumer demand.

Question

07-03-2016
Business

contestada

A firm's primary objective is to maximize profits; however, there are always two constraints:
A. cost and benefit.
B. supply and demand.
C. price and opportunity cost.
D. the cost of production and consumer demand.

Respuesta :

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AlpenGlow AlpenGlow · Answer 1 · 2018-03-17T16:21:43+01:00

Two constraints to maximizing profit are cost of production and consumer demand.

Consumer demand is essential for revenue. Competition and budget can affect demand and put constraints to profit maximization. Cost of production can constraint profits maximization too because the higher the cost of raw material, the higher the cost of production will be, which in turn will affect the price of the product. This increase in price can also affect the demand.

The answer is then D.

A firm's primary objective is to maximize profits; however, there are always two constraints: A. cost and benefit. B. supply and demand. C. price and opportunity cost. D. the cost of production and consumer demand.

Respuesta :

Otras preguntas

A firm's primary objective is to maximize profits; however, there are always two constraints:
A. cost and benefit.
B. supply and demand.
C. price and opportunity cost.
D. the cost of production and consumer demand.