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Is it ethical for Jerry to keep his smart phone on during the work day if:
(a) His daughter is sick and he needs to monitor messages from the baby sitter.
(b) His ID has been stolen and he is waiting for the credit card company to inform him of the damages.
(c) He likes to see what is posted about the company on social media so he can inform his bosses.
(d) He feels as though all employees should have the leeway to be involved in social networking on the job within reasonable limits.
Discuss each of the above using ethical reasoning.
Fixed Cost
Costs that do not vary with the level of production or sales, such as rent or salaries, over a relevant period.
Variable Cost
Refers to expenses that vary directly with the level of production or output, such as raw materials and labor costs.
Total Cost
The full price of manufacturing that incorporates both stable and changing expenses.
Diminishing Marginal Product
The economic principle stating that, holding all else constant, as more of a certain input is employed in a production process, the incremental increase in outputs will eventually decrease.
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