Question

Should profit-maximizing firms be regulated, or do they generally act in society’s best interest?

Answer 1

I think a profit-maximizing firm works in the best interest of society.

A firm can maximizing profit only by utilizing its resources efficiently. A firm can cust cost by optimal usages of resources. Therefore, profit-maximizing firms lead to better use of scarce resources of the society and the creation of value.

Also, profit-maximizing firms meet the need of the consumers most effectively. Moreover, profit-maximizing firms increases the value for the stake holders.