In What Way or Ways Are Ethical Relativism  and  Situational

question 39

Multiple Choice

In what way or ways are ethical relativism  and  situational ethics similar?

• A) They both look to a central authority or set of rules to guide ethical decision-making.
• B) They both assess each separate act according to whether it maximizes pleasure over pain.
• C) They both judge actions from the perspective of the actor.
• D) They both begin with an evaluation of the economic benefit of a decision.

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Definitions:

Fixed Cost

Expenses that do not change in the short term, regardless of the level of output or sales, such as rent, salaries, and loan payments.

Monopolistically Competitive

A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and price-setting ability.

Short Run

A period during which at least one factor of production is considered fixed, limiting the capacity to adjust production levels.

Continue to Operate

A business decision to keep running the operations despite challenges or low profitability in the short term.