Why might managers be able to achieve objectives other than profit maximization, which is the goal of the firm's shareholders?

A$.$ It is costly for shareholders to monitor the actions of its managers and therefore not reasonable to expect constant monitoring. Hence, there are opportunities for managers to pursue their own objectives

B$.$ Current generally accepted accounting practices favor management over shareholders. This has created a situation in which management's objectives are placed above shareholders'.

C$.$ Since managers typically know more about running the business than shareholders, they are able to pursue their own objectives without shareholders being aware of what's going on$.$

D$.$ If managers are in high demand, then they may be in a better bargaining position than shareholders. This can put them in a position where their objectives become part of a compensation package.