With Respect to Business Ethics, It Can Be Said That

question 267

Multiple Choice

With respect to business ethics, it can be said that "it takes two to tango." This indicates that:

• A) dancing around issues should be part of a firm's code of ethics.
• B) an individual's behavior is influenced by the behavior of others.
• C) teamwork eliminates a need for personal ethics.
• D) management is insensitive to ethical issues.

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Definitions:

Average Variable Cost

the total variable cost divided by the quantity of output produced; it shows the variable cost per unit of output.

Short Run

The short run is a period in which at least one factor of production is fixed, limiting the ability of a business to expand or reduce its output.

Shut Down

A temporary choice made by a company to halt manufacturing because of unsuitable market circumstances.

Shutdown Point

The level of production and price at which the revenue of a firm covers its variable costs, below which the firm would cease operations.