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Can anyone help on this Economics question?
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milomcc
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So its part of a 25 mark a2 aqua question and I was wondering whether both revenue maximisation and cost minimisation can be pursued at the same time. Looking around a paragraph sort of detail. Any help much appreciated!
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DrownedDeity
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(Original post by milomcc)
So its part of a 25 mark a2 aqua question and I was wondering whether both revenue maximisation and cost minimisation can be pursued at the same time. Looking around a paragraph sort of detail. Any help much appreciated!
So its part of a 25 mark a2 aqua question and I was wondering whether both revenue maximisation and cost minimisation can be pursued at the same time. Looking around a paragraph sort of detail. Any help much appreciated!
Revenue Maximisation and Cost minimisation could be considered a single joint objective.
In which case to maximise both, you could charge higher prices while firing some people etc.
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