In general, firm managers face constraints that affect their ability to maximize profits
Profit is a term that describes the economic profit that a company obtains when its revenues exceed its costs and expenses. For example, a kid at a lemonade stand spends 1/4 of his time making a cup of lemonade. She then sells her drink for $2. The profit from a glass of lemonade is $1.75.
Profit is the excess of total income over total expenses during a specified period in business use. In economics, profit is the surplus over earnings from capital, land, and labor (interest, rent, and wages). Profit is capital that a company can use for various purposes such as: B. Maintaining workplaces or equipment, replacing or upgrading vehicles or other items of value, or investing in new products, services, or employees. With good profits, companies can expect to continue to thrive.
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