Abstract
In Chap. 4 we were concerned with the definition of profit, and it is now the purpose of this chapter to investigate how profit influences the decisions taken by the managers of firms. The decisions we will be concerned with are those which are of particular interest to the economist: the setting of output, the determination of price, optimal advertising, etc.
This is a preview of subscription content, log in via an institution to check access.
Preview
Unable to display preview. Download preview PDF.
Further reading
C. S. Beed, ‘The Separation of Ownership and Control’, in The Modern Business Enterprise, ed. M. Gilbert (Harmondsworth: Penguin Books, 1972) pp. 137–52.
A. Koutsoyiannis, Modern Microeconomics, 2nd ed.(London: Macmillan, 1979) chap. 11.
F. Machlup, ‘Theories of the Firm: Marginalist, Managerialist, Behavioral’, American Economic Review (Mar 1967) pp. 1–33.
G. L. Nordquist, ‘The Breakup of the Maximisation Principle’, Quarterly Review of Economics and Business, vol. 5 (Autumn 1965) pp. 33–46, reprinted in Readings in Microeconomics, ed. D. R. Kamershen (New York: Wiley, 1969).
A. Silberston, ‘Price Behaviour of Firms’, Economic Journal, vol. 80, no. 319 (Sep 1970) pp. 511–82.
Copyright information
© 1979 Julian Gough and Stephen Hill
About this chapter
Cite this chapter
Gough, J., Hill, S. (1979). Managerial Objectives. In: Fundamentals of Managerial Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-16225-3_5
Download citation
DOI: https://doi.org/10.1007/978-1-349-16225-3_5
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-26666-3
Online ISBN: 978-1-349-16225-3
eBook Packages: Palgrave Business & Management CollectionBusiness and Management (R0)