Answered: In the theory of firm behavior, we…

In the theory of firm behavior, we assume that firms attempt to maximize _________. a)Total revenue b)Marginal revenue c)The number of customers d)Total economic profits

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter9: Market Structure And Long-run Equilibrium

Section: Chapter Questions

Problem 1MC

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In the theory of firm behavior, we assume that firms attempt to maximize _________.

a)Total revenue

b)Marginal revenue

c)The number of customers

d)Total economic profits

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