Question: Why Profit maximization is important? 2. What are the problems with the goal of profit maximization? 3. What causes cost of production to increase? 4.

  1. Why Profit maximization is important?

2. What are the problems with the goal of profit maximization?

3. What causes cost of production to increase?

4. Why is it important to determine the cost of production?

5. How can cost of production affect supply?

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