Final answer:
The objective of bureaucracy, according to the acquisitive model, is to maximize its own welfare by seeking additional power and prestige, not necessarily to maximize regulatory powers or protect the industry it regulates.
Step-by-step explanation:
According to the theory of bureaucratic behavior, the objective of a bureaucracy is to maximize its own welfare, which often translates into seeking additional power and prestige. This objective is typically associated with the acquisitive model of bureaucracy, which proposes that bureaucracies are naturally competitive and power-hungry. Under this model, bureaucrats strive to enhance the status of their own bureaucracy, which can lead to increased demands for budget and authority at the expense of others, and can result in bureaucratic waste.
Such behavior may contrast with the ideal Weberian model of a bureaucracy serving public interests in an efficient and apolitical manner. However, the acquisitive model recognizes the tendency of bureaucracies to operate much like monopolies, lacking competition, and thus without strong incentives to maximize efficiency or respond effectively to client needs. This implies that bureaucrats will act to expand their influence and control rather than focusing exclusively on regulatory powers or consumers' surplus.