An Operations Manager's Ethical Responsibilities

question 93

Multiple Choice

An operations manager's ethical responsibilities

• A) are limited to the production phase of product life cycle
• B) are limited to following published laws and regulations
• C) extend from design, to production, to final destruction/disposition of a product
• D) do not include being efficient with the firm's resources
• E) need not consider a product design's impact on the entire economy

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Definitions:

MRP

The additional revenue a firm generates by employing one more unit of input, such as labor or capital, in the production process.

Labor Demand Curve

A graphical representation showing the relationship between the quantity of labor demanded by firms and the wage rate.

Purely Competitive Seller

A market participant that operates in a perfectly competitive market, where no single seller can influence prices or market conditions.

Diminishing Marginal Productivity

A principle in economics stating that as additional units of a variable input are added to a fixed input, the marginal product of the variable input eventually decreases.