Economics A-Level
Profit Maximisation vs Alternative Objectives
What Profit Maximisation vs Alternative Objectives means in Economics A-Level, as defined for Pearson Edexcel.
Definition of Profit Maximisation vs Alternative Objectives
Examination of the neoclassical assumption that firms seek to maximise profit (MC=MR) compared to behavioral theories such as revenue maximisation (MR=0), sales maximisation (AC=AR), or satisficing behavior driven by the principal-agent problem.
Topics that use Profit Maximisation vs Alternative Objectives
- Revenues, costs and profits (Pearson Edexcel A-Level)
Related terms
Using Profit Maximisation vs Alternative Objectives in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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