Arguments For

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Arguments For
The following arguments are put forward to show that the assumption of profit maximisation is amply borne business behaviour  The businessmen sometimes assert that it is t!Jelr business to look after social welfare, rather than personal gain. Thus, the actual behaviour of businessmen is in accord with profit maximisation doctrine. (;;) The postulate of profit maximisation certainly applies to industries and it is the behaviour of the industry, rather than of an individual firm which determines the flow of products and the demand for inputs.

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Arguments For