Solved: What information would you need to know to calculate profit, Microeconomics

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What information would you need to know to calculate profit

Problem

1. Economists assume that firms have a goal to maximize profits. Is this a reasonable assumption for not-for-profit organizations?

2. Suppose you were evaluating the profit earned by a pharmaceutical company that produces three different medicines. What information would you need to know to calculate profit?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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