Which of the Following Is True of Managing Ethical Behavior

question 45

Multiple Choice

Which of the following is true of managing ethical behavior?

• A)Ethical issues are always public and monumental.
• B)Organizations must create a culture that discourages ethical behavior.
• C)Ethical behavior is a major internal force for change in an organization.
• D)Society expects organizations to maintain ethical behavior in relationships with customers.

Differentiate between most efficient output and most profitable output for the firm.

Analyze firm behavior under specific price conditions in both the short run and the long run.

Understand different types of validity and their importance in research.

Distinguish between various reliability indicators and their uses.

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Definitions:

Short-Run Supply

The supply of goods that exists when producers are able to change the quantity of the good produced in response to changing prices, typically within a limited time frame.

Curve

A graphical representation of the relationship between two or more variables in a coordinate system, often used in economics to illustrate supply and demand.

Shutdown Point

The level of operation at which a company does not benefit from continuing operations and may decide to temporary halt production—it's where marginal cost equals average variable cost.

Lowest Price

The minimum amount at which a product or service is sold, often determined by costs, competition, and market demand.