Alternative Objectives of Firm (With Diagram) | Economy
In this article we will discuss about the alternative objectives of firm, explained with the help of suitable diagrams. Profit maximisation is the traditional objective of the business firm, but not the only objective. Firms pursue alternative objectives as well as sales maximisation or satisficing. W.J. Baumol has put forward the sales-maximisation hypothesis. In the language of R.G. Lipsey has [...]