question archive The oligopolistic situation in which a company's objective is to maximize revenue subject to a minimum profit requirement is usually referred to as
The oligopolistic situation in which a company's objective is to maximize revenue subject to a minimum profit requirement is usually referred to as
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The oligopolistic situation in which a company's objective is to maximize revenue subject to a minimum profit requirement is usually referred to as .
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The answer is the Baumol Model. Baumol's Model is a sales revenue maximization model. It is an important model of oligopoly, particularly on sales maximization as an alternative to profit maximization. According to this model, the company's objective should be to gain as much revenue as possible, subject to only a lower profit requirement. .
