what is profit maximization?
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The general rule is that the firm maximizes profit by producing that quantity of output where marginal revenue equals marginal cost. ... To maximize profit the firm should increase usage of the input "up to the point where the input's marginal revenue product equals its marginal costs".
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Explanation:
Profit maximization is the capability of a business or company to earn the maximum profit with low cost which is considered as the chief target of any business and also one of the objectives of financial management.
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