Question
Outline the relationship between the profit-maximising output and the revenue-maximising output with reference to Baumol's Model of managerial decision making (1959). Under what circumstances may
Outline the relationship between the profit-maximising output and the revenue-maximising output with reference to Baumol's Model of managerial decision making (1959). Under what circumstances may a firm wish to pursue the objective of maximising revenue rather than maximising profit? Is this a realistic model of managerial decision making?
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Contemporary Labor Economics
Authors: Campbell R. McConnell, Stanley L. Brue, David Macpherson
11th Edition
1259290602, 1259290603, 978-1259290602
