WAPM

Weak Axiom of Profit Maximization

notwendige Bedingung für Gewinnmaximierung (Profit maximization): $p^ty^t\geq p^ty^s$ for all $t$ and $s=1,\ldots,T$

Einfache Sprache: Suppose a firm could make production choice A, or production choice B. Suppose the firm chooses A, and is maximizing profits. Then, this implies that the firm is making as much or more profits as it would make if it had chosen B.