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Considering all of the lessons, rules, analyses, or doctrines addressed in macroeconomics, which is the most...

Considering all of the lessons, rules, analyses, or doctrines addressed in macroeconomics, which is the most important for the business world? Why? Explain your answer.

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Answer #1

I think the profit maximization rule that is MR = MC is the most important rule for the business world. Businesses survive when they make profit and one of the most important goal of a business to maximize its profit so that it can create optimal value for its stakeholders. The profit maximizing rule helps a firm determine the right level of production to maximize its profit. If the firm produces below or above the output, it will not be maximizing its profit.

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