Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter11: Marketing And Distribution
Section: Chapter Questions
Problem 2AA
Related questions
Question
how does the manager determine what steps to take to make the firm possible?
Expert Solution
Step
Manager has certain responsibilities for the firms development
The primary objective would be to increase sales and bring the firm into break even situation.
Secondary objective would be to maximize profits by increasing the sales to a much greater extent and taking necessary steps to maximize profits.
Manager would need to analyze price of the products,technology used in manufacturing those products.If the technology is not advanced then advanced technology needs to be used in order to gain cost advantage through economies of scale.
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