"Hmmm...why didn't they reduce their prices to only make the profit they wanted? It's almost as if they were trying to make as much money as they possibly could without regard for all those taxes they are going to pay. Silly corporation!"
You think that contradicts my position? It doesn't. In fact, I have always said that businesses exist to maximize profit; however profit maximization over the long run is not synonymous with price maximization.
If you will note from my prior post, something similar happened to the soft drink companies in the short run.
Better get your coffee, YN, you aren't on top of your game yet.
Off the top of my head, McDonald's and Wal-Mart demonstrate that to be true.
however profit maximization over the long run is not synonymous with price maximization.Never said it was.