According to the Textbook,________ and ________ Must Accept Personal Responsibility

question 97

Multiple Choice

According to the textbook,________ and ________ must accept personal responsibility for developing and strengthening ethical behavior throughout the organization.

• A) bankers, employees
• B) employees, external stakeholders
• C) managers, top executives
• D) managers, stockholders

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Definitions:

Long Run

A period of time sufficiently long that all inputs or factors of production can be varied by firms, allowing them to fully adjust to market conditions.

Variable Costs

Expenses that vary directly with the amount of production or business activity.

Fixed Costs

Costs that do not change with the level of output or production, such as rent or salaries.

Average Fixed Costs

The total fixed costs of production divided by the number of units produced, showing how fixed costs per unit change with production levels.