Multiple Choice
Firms that satisfice will typically
A) be more eager to exploit their economic power than profit- maximisers.
B) have less organisation slack than a profit- maximiser.
C) be more responsive to changes in economic conditions than sales revenue- maximisers.
D) be less responsive to changes in economic conditions than profit- maximisers.
Correct Answer:

Verified
Correct Answer:
Verified
Q18: Why does an unwanted take- over become
Q19: How could consumer welfare be influenced by
Q20: The fact that firms may not maximise
Q21: The profit- maximising output will never be
Q22: If firms do not use marginal cost
Q24: When firms adopt a satisficing approach with
Q25: If a firm under perfect competition had
Q26: What variables are likely to influence managerial
Q27: The theory that managers aim to shift
Q28: If firms 'satisfice', this means that<br>A) long-