An important component of marketing strategy is to "position" a product in perceptual space. But to realize a perceptual position we must model the link from physical characteristics to perceptual ...

Learn how monopolies maximize profits by equating marginal cost and revenue. Discover the economic principles guiding price and output decisions in monopoly markets.

When a small business is first getting started, its goal may appear relatively straight forward: to make as much money as possible for its owners. But for a business to be successful long term, a new ...

Writing in the WSJ last week, economics professor Paul Rubin “takes the community organizer-in-chief to task for his dismissive comments about profit maximization” (ht/E. Frank Stephenson): In ...

The Nobel Prize-winning economist Milton Friedman once stated that a business' sole responsibility is "to use its resources ... to increase its profits." This mentality has persuaded many business ...

I asked Prof. Bainbridge whether I could cross-post this from Corporate Finance Lab, and he kindly agreed: What is the purpose of a corporation? Is it, as Nobel Economics laureate Milton Friedman ...