profit maximization strategy- HE4

As a profit maximization strategy, firms should aim to minimize the costs of production through the efficient combination of inputs, and a deeper understanding of how cost varies with production.

Using an example of a health service provider in Saudi Arabia:

•            Identify the major inputs used in production;

•            Discuss the relationship of inputs to output (service);

•            Assess efficiency of resource utilization; and

•            Evaluate the cost minimization strategy of the organization. Do you agree with this strategy? Why or why not?

Be sure to support your statements with logic and argument, citing all sources referenced.