Resourcing Organisation and Competitive Capability
(a) Outline the relationship between the profit-maximising output and the revenue-maximising output with reference to Baumol’s Model of managerial decision making (1959). Under what circumstances may a firm wish to pursue the objective of maximising revenue rather than maximising profit? Is this a realistic model of managerial decision making? (b) A sales revenue maximising firm will decrease price and increase […]