Pierre Takes a Utilitarian Viewpoint of Ethics

question 25

Multiple Choice

Pierre takes a utilitarian viewpoint of ethics. He will therefore judge a business decision to be ethical so long as

• A) more good than bad results from the decision.
• B) everybody is treated fairly.
• C) certain rights are not violated.
• D) he has good character and integrity.

Understand various methods for setting the promotion budget.

Evaluate different approaches to determining a promotion budget, highlighting their advantages.

Understand the role and impact of digital marketspace in modern commerce.

Identify how digital technologies enhance customer value through utility creation.

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Definitions:

Cost Function

A mathematical representation of how a firm's costs change with different levels of output, typically showing the relationship between costs and output quantity.

Average Age

A statistic that represents the mean age of a group of individuals or objects.

Learning by Doing

The process where productivity is increased through practice, self-perfection, and minor innovations.

Cost-Output Elasticity

A measure of how responsive the total cost of production is to changes in the quantity of output produced.