In International or Intercultural Negotiations, We Face Ethical Issues That

question 176

Short Answer

In international or intercultural negotiations, we face ethical issues that are
_________________, _________________; that is, the rightness or wrongness of the action or position is culturally conditioned, and is not a cultural universal.

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Definitions:

Economic Profits

Profits calculated by subtracting total explicit and implicit costs from total revenues; measures the excess over both the opportunity cost of capital and the wages that business owners could have earned elsewhere.

Marginal Cost

The escalation in total expenses incurred from the production of an additional unit of a product or service.

Marginal Costs

The change in total cost that comes from making or producing one additional item.

MC Curve

A graph representing the marginal cost of producing each additional unit of output in a firm or economy.