If firms "satisfice" this means that a. objectives such as profit are not maximized. b. managers need to be paid enough to stop them leaving the company. c. short-run profits are maximized. d. long-run profits are maximized.

My answer was wrong can I be shown explained what the right answer is?

Suppose a restaurant that is highly profitable during the summer months is unable to cover its total cost during the winter months. If it wants to maximize profits, the restaurant should a.lower its prices during the summer months. b.go a out of business immediately; losses should never be tolerated. c.continue operating during the winter months if it is able to cover its variable costs. d.shut down during the winter, even if it is able to cover its variable costs during that period.

Zero profit does not mean that the entrepreneur does not get anything for his efforts.   a. maybe   b. true   c. both a and b   d. false