The primary objective of most private firms is to:
A. maximize output.
B. maximize revenue.
C. maximize profit.
D. minimize cost.
Answer: C
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Andrew Carnegie is most recognized for:
a. being the first manufacturer to utilize the assembly line in large-scale production. b. being a leader in the steel industry. c. helping implement many of FDR's New Deal policies. d. being a prominent Civil War general.
The distribution of income in developed countries is less egalitarian than less developed countries
a. True b. False Indicate whether the statement is true or false
When the Fed decides to enact expansionary monetary policy, the supply of loanable funds:
A. increases, while the demand for loanable funds decreases. B. decreases, while the demand for loanable funds increases. C. and the demand for loanable funds both decrease. D. and the demand for loanable funds both increase.
The demand curve for loanable funds slopes downward because of diminishing returns
Indicate whether the statement is true or false