Which of the following statements is true?
A) The only possible objective of a business in the short run is to maximize profit.
B) Any firm that does not maximize its profit will be driven out of business by its rivals.
C) It is generally assumed that profit maximization is the basic goal of a firm, but other short-term objectives may exist as well.
D) Profit maximization is always more important to the management of a corporation than to an individual managing a proprietorship.
Correct Answer:
Verified
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