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Mamont248 [21]
3 years ago
7

Which of the following statements is TRUE? Economists normally assume that the goal of the firm is to: I. sell as much of their

product as possible. II. set the price of their product as high as possible. III. maximize profit.
Business
2 answers:
aivan3 [116]3 years ago
4 0

Answer:

III. maximize profit.

Explanation:

Profit maximisation is assumed to be the most important goal of most firms. Profit maximization means selling a product at the point where total revenue is at its greatest above total cost.

Profit is maximised where marginal cost equals marginal revenue.

I hope my answer helps you

77julia77 [94]3 years ago
4 0

Answer:

III. maximize profit.

Explanation:

In economics, profit maximization is one of the major goals of a business set up to make profit. Maximization of profit, which is the ultimate goal of business, according to economics is not mainly achieved by mere selling of as much product as possible, nor is it dependent solely by setting a higher price for such product.  

For profit maximization to be achieved in business, whether in the short or long run, the right price, right input and output levels that would yield optimal profit must be carefully determined. In order words, for a firm to maximize profit, it would determine to produce a product at the output level where the marginal revenue equals the marginal cost, or where the total revenue is at the greatest above the total cost.

According to the normal assumption of economists, maximization of profit is the major goal of a firm.

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Answer:

$400 .Since inventory is valued at cost or market value(current replacement cost) whichever is lower .

Therefore value of inventory : $400*8=$3200

Explanation:

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3 years ago
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Direct finance is a transaction between two parties where one party lends directly to the other​ party, whereas indirect finance
mamaluj [8]

Direct financing involves the financial market and indirect financing involves intermediaries. In the financial market, companies put their shares for sale and investors buy them. This is a direct financing mechanism for companies, which raise funds by sharing their own capital in traded shares.

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3 years ago
A company's chart of accounts is: a detailed list of the accounts that make up the five financial statement elements. the set of
polet [3.4K]

Answer:

A detailed list of the accounts that make up the five financial statement elements.

Explanation:

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The chart of accounts can differ greatly from company to company simply because companies engage in vastly different economic activities.

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3 years ago
Erin has been analyzing the manufacturing process for a local company and is starting to see some changes because of her suggest
galben [10]

Answer: six sigma; eliminate waste.

Explanation:

Here's the remainder of the question:

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Six sigma also beings about improvement in the morales of the workers, and the improvement in profits.

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anyanavicka [17]

Answer:

a Competency

Explanation:

Competency refer to set of capabilities an enterprise possesses relating to performance of a task in an efficient manner in a given specific situation.

Competencies are the sum total of skills, knowledge and capabilities.  These are developed over time with application of skills and knowledge.

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