"Everyone Else Does It," Is a Signal of an Ethical

question 142

True/False

"Everyone else does it," is a signal of an ethical pitfall.

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Definitions:

Diversity

The representation and inclusion of individuals from a variety of backgrounds, perspectives, and experiences in a group or organization.

Tacit Collusion

An unspoken, non-explicit agreement among competitors to maintain prices at a certain level or to not compete on certain aspects, without direct communication.

Few Firms

A market condition characterized by a small number of companies, often leading to an oligopolistic competition where each firm's actions can significantly impact the market.

Economic Profits

The difference between total revenues and total explicit and implicit costs.