The traditional objective of a firm is profit maximization. There exists alternative short run objectives such as sales maximization, sales revenue maximization, survival, satisficing profits, and ethical objectives. Sometimes, there exists is a trade-off between these objectives as some of these objectives may lower profits in the short-term, but lead to profit maximization in the long-run; there is also likely to be the principal-agent problem if a firm pursues other obejctives aside from maximizing profit. Profit maximization is viewed as the utimate objective of the firm and can be derived using the Total Revenue (TR) and Total Cost (TC) approach or the Marginal Revenue (MR) and Marginal Cost (MC) rule. Profit is maximized where theTR curve is at maximum (its highest point) at which MR is zero. Alternatively, using the MR/MC rule, profit is maximized where MR=MC.
The correct answer is : after the death of the President Zachary Tylor. Zachary Tylor died in 1850 and California became a state in 1850 as well - 2 months after his death.
High self-efficacy influences someone positively in away that it motivates them most of the time. It usually makes a person put an effort towards completing a particular task and to keep pushing in pursuit of achieving those tasks, they put more effort than a person with low efficacy. High efficacy lead to more effort because the person believe their hard work will definitely pay off.
The correct answer is The Kellogg-Briand Pact was signed by 15 nations and attempted to outlaw war.
Explanation: The Briand-Kellogg Pact was intended to establish “renunciation of war as an instrument of national policy”, but was largely ineffective in preventing conflict or war.
