When Laws and Ethics Collide and Conflict Cannot Be Avoided

question 8

Multiple Choice

When laws and ethics collide and conflict cannot be avoided, practitioners should do all of the following EXCEPT

• A) obey the law in a manner that minimizes harm to their ethical values.
• B) adhere to their ethical values in a manner that minimizes the violation of the law.
• C) always offer a referral to another practitioner.
• D) obtain legal consultation when needed.

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Definitions:

Long-Run Scale

Refers to the time period in which all factors of production and costs are variable, allowing companies to adjust all inputs in response to market conditions.

Short-Run

A period in which at least one input is fixed, limiting the firm's capacity to adjust to changes in demand or market conditions.

Positive Profits

Financial gains that are greater than zero, indicating a company's revenues exceed its costs and expenses.

Variable Costs

Costs that change in proportion to the activity or volume of business, such as materials and labor.