Profit maximization seeks to find new methods to increase net revenue for a business, often without relying on increased demand or changing sales prices – although these are also viable strategies. As ...

A profit-maximizing firm focuses on raising net earnings and proving profitability to investors whenever possible. While businesses often fall into profit-seeking behaviors naturally, there are other ...

The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Log-in to bookmark & organize content - it's free! A panel discussion was held on the work of philosopher and economist F.A. Hayek. Here Professor Richard Epstein discusses Hayek's view of government ...