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QUESTION 3 Traditionally, it is assumed that firms/managers exist to maximize profit. However, it has been argued that the behaviour of real-world managers is not

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QUESTION 3 Traditionally, it is assumed that firms/managers exist to maximize profit. However, it has been argued that the behaviour of real-world managers is not always consistent with the profit maximization objective. Do you agree with this assertion? Discuss with specific examples. 20 Marks

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