If the goal of the firm is both short- and long-run profit, Business Economics

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If the goal of the firm is both short- and long-run profit

1) If the goal of the firm is both short- and long-run profit maximization,

(i) explain why a firm may sacrifice short-run profits for long-run growth and profitability;

(ii) explain how and why the management team of the firm may have different objectives (goals) than the owners of the firm; and

(iii) explain how the owners of the firm can bring the management team's objectives (goals) to be consistent with the owners' goals.

2) Discuss goals a firm might have which seem to not agree with profit maximization. are these goals consistent with profit maximization?why or why not?

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