The Mean or "Golden Mean" for Virtue

question 21

Multiple Choice

The mean or "golden mean" for virtue

• A) always falls exactly halfway between deficiency and excess.
• B) always falls slightly towards the excess, since people are initially not virtuous enough.
• C) can fall in different places relative to excess and deficiency depending on the virtue.
• D) measures the morality of one's character based on an average of their virtuous and vicious acts.

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Definitions:

Common Fixed Costs

Costs that are shared by multiple segments or products of a company and do not change with the volume of production for any single product.

Absorption Costing

Absorption costing is an accounting method where all manufacturing costs (direct materials, direct labor, and both variable and fixed overhead) are included in the cost of a produced unit.

Profits

The financial gain calculated by subtracting total expenses from total revenue.

Units Produced

The total number of finished products that a company manufactures during a specific period.