‘Sales Revenue Maximization’ as an alternate objective of business firms was postulated by whom of the following?

The correct answer is W.J. Baumol.

Key Points

• The concept of "Sales Revenue Maximization" as an alternative objective of business firms was postulated by William J. Baumol, an American economist.
• Baumol proposed this theory as an alternative to profit maximization, arguing that some firms may prioritize maximizing their sales revenue rather than solely focusing on maximizing profits.
• According to Baumol, firms may pursue sales revenue maximization to achieve various goals, such as increasing market share, expanding market presence, or pursuing growth opportunities. This concept suggests that firms may prioritize revenue generation even if it results in lower profit margins.