The primary objective of a for profit firm is to

Asked by admin @ 29/10/2021 in Business viewed by 252 People

A firm's primary objective is to maximize profits; however, there are always two constraints:

A. cost and benefit.
B. supply and demand.
C. price and opportunity cost.
D. the cost of production and consumer demand.

Answered by admin @ 29/10/2021

Two constraints to maximizing profit are cost of production and consumer demand.

Consumer demand

is essential for revenue. Competition and budget can affect demand and put constraints to profit maximization. Cost of production can constraint profits maximization too because the higher the cost of raw material, the higher the cost of production will be, which in turn will affect the price of the product. This increase in price can also affect the demand.

The answer is then D.

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Asked by nevaeh10 @ 17/10/2022 in English viewed by 1612 persons

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Asked by maham237 @ 13/01/2021 in Business viewed by 2747 persons

The primary objective of a for profit firm is to

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