Managerial Economics for global management Case analysis

This is MBA – Managerial Economics for global management course.

This textbook you may need:

Paul Farnham. (2014). Economics for Managers, 3rd Edition. Upper Saddle River, NJ: Pearson Education.

Deliver:

1. Read the case “Are Profits the Only Business of Business” by Robert Almeder and Milton Friedman.

2. Answer the Any 2 questions under the attachment. (See ” ECO Week 1 case questions“)

3. 2 pages required. APA format.

Ebook concepts are under the attachment ” ECO Week 1 case questions“.

……………Answer Preview……………….

Q1. Friedman maintains that the social responsibility of business is to make increased profits or to maximize shareholder wealth. What does he mean? How would Almeder respond to this? How do you respond?

Businesses and corporates are separate legal persons from the persons who formed them. They are treated as separate legal entities hence separated from the shareholders. Business executives are agents appointed by the owners to run the business. Ideally, business cannot have or assume responsibilities as they are not like owners who are humans. Theirs is only an artificial responsibility. Business people….

APA

701 words

Get instant access to the full solution from yourhomeworksolutions by clicking the purchase button below