Economics 0455 · IGCSE · Firms’ costs, revenue and objectives

Firms’ costs, revenue and objectives — practice question

In what way can a business ensure that it achieves the highest possible profit?

  • Aby maximising the difference between its total revenue and total cost
  • Bby maximising the number of goods that it sells
  • Cby minimising the number of goods that it keeps in stock
  • Dby minimising the difference between average revenue and average cost

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