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BUSINESS ETHICS ESSAY
Being marked on quality of communication, demonstrated knowledge and reasoning
Explain the following passage:
“Under the proper assumptions profit maximization is indeed efficient in the sense that it can achieve as high a level of satisfaction as possible for any one consumer without using more resources than society is endowed with.”
Do you agree with this statement? What are its implications? What are the limitations of this position? Use concrete examples to support your position.
MINIMUM 5 paragraph answer
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