Economists normally assume that the goal of a firm is to

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Economists normally assume that the goal of a firm is to maximize profits, which is option (iii) only. Other goals such as market share and social responsibility may be pursued by some firms, but they are not assumed to be the primary goal in the economic model. Option (i) is not a goal that is assumed for firms, but rather a characteristic of competitive markets. Option (ii) may be a means to achieve profit maximization, but it is not necessarily the primary goal in the economic model.

Economists Normally Assume That the Goal of a Firm Is