“Profit Maximization is the main objective of a firm”. Discuss this statement with the help of an example.

The statement "Profit Maximization is the main objective of a firm" has been a cornerstone in classical economic theory and traditional business perspectives. However, in the field of managerial economics, this notion is subject to debate, as contemporary views recognize the importance of considering other factors beyond sheer profit to ensure sustained business success and societal welfare.

Profit maximization implies that a firm's primary goal is to generate the highest possible level of profit. Profit, in this context, typically refers to the difference between total revenue ______ _________ ___ ________ ____.
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