Introduction In the world of economics, firms operate with various objectives in mind, each serving a specific purpose within a particular time frame. In the short run, firms pursue specific goals to maximize their profits and optimize their operations. In this blog post, we will delve into the objectives of firms in the short run and explore how they navigate this time horizon to achieve their desired outcomes. 1. Profit Maximization One of the primary objectives of firms in the short run is to maximize their profits. Profit maximization involves finding the optimal level of output where the difference between […]