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Define the Basic Concepts of Responsibility,accountability,and Liability as Applied to Ethical

question 49

Essay

Define the basic concepts of responsibility,accountability,and liability as applied to ethical decisions.How are these concepts related?


Definitions:

Natural Monopoly

A type of monopoly that arises due to high fixed or start-up costs associated with the business, making it efficient for only one provider to serve the entire market.

Antitrust Law

Laws designed to promote competition and prevent monopolies by regulating corporate practices that restrict trade.

Product Price

The amount of money charged for a product, determined by costs, market demand, and competition.

Natural Monopoly

A market condition where a single firm can supply the entire market at a lower cost than any combination of two or more firms due to economies of scale.

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