Professional athletes attempting only to maximize income will defer larger salaries if DEFERRED PAYOUTS ARE ADJUSTED UPWARD TO COMPENSATE FOR FOREGONE INTERESTS.
If professional athletes, whose sole aim is larger income are asked to wait for sometime before collecting their salaries, with the promise that their incomes will be raise for the period of their waiting, then, most of them will gladly agree to the arrangement, since, they are sure of higher amounts.
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Profit maximization can be achieved by a competitive corporation by choosing a quantity of output such that marginal revenue equals marginal cost.
<h3>How does a corporation maximize its profit?</h3>
A corporation maximizes income via way of means of operating wherein marginal revenue equals marginal price. The corporation chooses quantity in order for that rate to equal marginal value so that it can maximize its profit.
Therefore, When the marginal revenue for an aggressive corporation equals the market rate, the firm maximizes its profit.
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Actual spending. It is important to compare the budget, which is expected spending, to actual spending to make adjustments and catch potential problems or figure out what to do extra money.
