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In economics, it is often assumed that firm managers want to maximize the firm's normal profits and consumers want to maximize utility.Why is this unlikely
In economics, it is often assumed that firm managers want to maximize the firm's normal profits and consumers want to maximize utility.Why is this unlikely in the real world?Define economic profits.Compare the maximization of normal versus economic profits as criteria to look at business decision making.Define maximization of shareholder wealth and compare it to maximization of normal profits as criteria to look at business decision making.Defend your answer and cite your sources.
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