Firms often have the option to expand production at some point in the future, which is known as a(n): abandonment option.
A firm is a for-profit business, usually formed as a partnership that provides professional services, such as legal or accounting services. The theory of the firm posits that firms exist to maximize profits.
A firm is a business organization such as a corporation that produces and sells goods and services with the aim of generating revenue and making a profit. Examples of firms are a sole proprietorship, partnership, limited liability company, or corporation.
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