Question

Which of the following demonstrates a way that an organization can maximize profits?
a. Decreasing the quality of care
b. Reducing the cost of delivering care
c. Reducing the costs charged for services
d. All of the above

Answer 1

Answer:

b. Reducing the cost of delivering care

Explanation:

Not a lot of information is included, but some things apply to all types of businesses:

• you can maximize profits by minimizing costs (this is a valid option).
• you cannot maximize your profits by lowering the quality of your products or services, since that will result in lost customers.
• reducing the costs charged for services will increase your profits only if it results in a larger increase in the quantity demanded, so this doesn't always apply.