Economists normally assume that the goal of a business firm is to: D. maximize its profit.
Profit can be defined as an amount of money that is generated by an individual or a business firm when the manufacturing cost is deducted (subtracted) from total revenue.
Generally, economists usually consider the maximization of profit as the goal of a business firm.
In this context, economists usually assume that the goal of a business firm is to earn:
- Profits as large as possible, even if it has to reduce its level of production.
- Profits as large as possible, even if it has to incur a higher total manufacturing cost.
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