What does economics have to do with strategy? How does a profit maximization fir
ID: 1202070 • Letter: W
Question
What does economics have to do with strategy?How does a profit maximization firm make decisions regarding prices and quantity?
Why should analysts/consultant etc. care about economic? What does economics have to do with strategy?
How does a profit maximization firm make decisions regarding prices and quantity?
Why should analysts/consultant etc. care about economic?
How does a profit maximization firm make decisions regarding prices and quantity?
Why should analysts/consultant etc. care about economic?
Explanation / Answer
1. Economics have to do with strategy because-
Economics provides a more complete view of business
Economics can improve decision-making
Understanding the balance between micro and macro-economic business understands their responsible actions and ethical investing.
2. A profit-maximizing firm always want to produce the quantity where marginal cost is equal to marginal revenue..
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