What is a firm?

      

Define a firm.

  

Answers


Martin
- An organization which converts hired inputs into salable outputs.

- A collection of resources that is transformed into products demanded by consumers

- A production unit that arrives at an output considering the market conditions and endeavors to produce the same at the least cost.

- An entrepreneur who takes decisions about the output and its price fixation in a given market.
marto answered the question on April 16, 2019 at 13:07


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