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#cfa #cfa-level-1 #economics #lol #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-2-objectives-of-the-firm #study-session-4
The price at which a given quantity of a good can be bought or sold is assumed to be known with certainty (i.e., the theory of the firm under conditions of certainty)
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2. OBJECTIVES OF THE FIRM
fit over the period ahead. Such analysis provides both tools (e.g., optimization) and concepts (e.g., productivity) that can be adapted to more-complex cases and also provides a set of results that may offer useful approximations in practice. <span>The price at which a given quantity of a good can be bought or sold is assumed to be known with certainty (i.e., the theory of the firm under conditions of certainty). The main contrast of this type of analysis is to the theory of the firm under conditions of uncertainty, where prices, and therefore profit, are uncertain. Under market uncertainty, a


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