Some variation of 'Is profit maximisation a valid assumption?' is a really common essay question, but I've found that students struggle to get decent marks on it because they focus too much on the theory and not enough on application. I've made this worksheet to try to walk students through when each objective might be most relevant. There are loads of industries to look at for this topic: pharmaceuticals, media corps, tech, gig economies..., plus many well-known firms don't have strong profit records (AirBnB, Snap, Spotify).
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