Ethical Responsibility Includes Behaviors That Are Not Necessarily Codified into Law

question 15

True/False

Ethical responsibility includes behaviors that are not necessarily codified into law and may not serve the corporation's direct economic interests.

---

Definitions:

Total Cost

The sum of all costs associated with the production of a given quantity of output, including both fixed and variable costs.

Output Units

The individual items or quantities of a product that are produced by a company or an economic production process.

Total Variable Cost

The total of expenses that change in proportion to the activity of a business, such as materials and labor, in contrast to fixed costs.

Marginal Cost

The cost of producing one additional unit of a good, calculated by the change in total cost that comes from producing one more unit of output.