Answer: profits economics
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Producers often work to maximize their ____ and make them as large as possible. Determining Market Price
In economics profit maximization is the short run or long run process by which a firm may determine the price input and output levels that lead to the highest profit. Neoclassical economics currently the mainstream approach to microeconomics usually models the firm as maximizing profit. There are several perspectives one can take on this problem. First since profit equals revenue minus cost one can plot …
Moreover if A and B are combined and used up to make product C in 40 hours then product C is likely to be worth the equivalent of around 145 hours of human work in total including the work of actually making product C. For that reason most market trade in products is regular and largely predictable as far as price levels are concerned ...
Pricing strategies - Wikipedia
Profit maximization - Wikipedia
Profit maximization - Wikipedia
Pricing strategies - Wikipedia
A business can use a variety of pricing strategies when selling a product ...
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