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Answer to Question #57263 in Other Economics for shahrukh

Question #57263
Which objective of the firm provides the basis for theory of the firm?
Expert's answer
The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, including its existence, behavior, structure, and relationship to the market.
The basic objective in the theory of the firm is profit maximization, because the firm needs to maximize profits to be efficient and to continue producing.

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