英语翻译我的时间来不及,非常感激!In microeconomics courses,profit maximizati

英语翻译
我的时间来不及,非常感激!
In microeconomics courses,profit maximization is frequently given as the goal of the firm.profit maximization stresses the efficient use of capital resources ,but it is not specific with respect to the time frame over which profits are to be measured.Do we maximize profits over the current year,or do we maximize profits over some longer period?A financial manager could easily increase current profits by eliminating research and development expenditures and cutting down on routine maintenance .In the short run,this might result in increased profits,but this clearly is not in the best long-run interests of the firm.If we are to base financial decisions on a goal ,that goal must be precise ,not allow for misinterpretation,and deal with all the complexities of the real world.
In microeconomics ,profit maximization functions largely as a theoretical goal ,with economists using it to prove how firms behave rationally to increace profit.Unfortunately ,it ignores many real-world complexities that financial managers must address in their decisions .In the more applied discipline of financial management ,firms must deal every day with two major factors not considered by the goal of profit maximization:uncertainty and timing.
Microeconomics courses ignore uncertainty and risk to present theory more easily.Projects and investment alternatives are compared by examining their expected values or weighted average profits .Whether one project is riskier than another does not enter into these calculations ;economists do discuss risk ,but only tangentially.In reality,projects differ a great deal with respect to risk characteristics,and to disregard these differences in the practice of financial management can result in incorrect decisions.As we will discover later in this chapter ,there is a very definite relationship between risk and expected return for taking on added risk-and to ignore this relationship would lead to improper decision making.
Another problem with the goal of profit maximization is that it ignores the timing of the project’s returns .If this goal is only concerned with this year’s profits ,we know it inappropriately ignores profit in future years.If we interpret it to maximize the average of profits ,it is also incorrect.Inasmuch as investment opportunities are available for money in hand .we want those cash flows sooner rather than later .Thus ,the real-world factors of uncertainty and timing force us to look beyond a simple goal of profit maximization as a decision criterion.We will turn now to an examination of a more robust goal for the firm:maximization of shareholder wealth
翻的专业点，我愿意多加点分。

在微观经济学的课程中,利润最大化通常是一个公司的既定目标.利润最大化强调资本财力的有效利用,但是与时间架构在衡量上没有细致的关系.我们在近期或者长期能实现利润的最大化吗?一个财务经理可以轻松的增加近期利润,通过减少研究和发展的支出并且减少日常的维持生计.在短期经营中,这可能引起利润的增长,但是这明显不适合长时间的公司.如果我们以财政决定为目标,目标就一定要精确,不允许有一点曲解,并且处理所有真实世界的复杂性.
.(to be continued)
太多了 不能忍了 水平不行啊 我闪了