To Help Establish Clear Guidelines for Ethical Behavior, Many Companies

question 4

Multiple Choice

To help establish clear guidelines for ethical behavior, many companies provide employees a written

• A) code of ethics.
• B) ethical lapse.
• C) ethics audit.
• D) ethical dilemma.

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Definitions:

Perfectly Competitive Firms

Businesses operating in a market where no single firm can influence the market price or product quality, leading to optimal efficiency.

Maximize Profit

The process or strategy employed by businesses to increase their net earnings or reduce costs to the greatest extent possible.

Marginal Revenue Curve

A graph that shows the additional revenue a firm earns from selling one more unit of a good or service.

Upward Sloping

A characteristic of a graph or curve that rises from left to right, indicating a positive relationship between two variables.