Decision Making on the Margin Involves

question 275

Multiple Choice

Decision making on the margin involves

• A) comparing the marginal cost and marginal benefits when making a decision.
• B) comparing the total cost and the total benefit when making a decision.
• C) eliminating the additional cost when making a decision.
• D) determining the total benefits of a decision.
• E) comparing the benefits from the social interest to the benefits from the person's self-interest.

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Definitions:

Ethical Development

The process of learning, understanding, and applying ethical principles and standards in personal and professional contexts.

Postconventional

A stage of moral development where individuals' ethical principles guide their behavior, surpassing societal norms or expectations.

Society

A community of people living together in a more or less ordered community, sharing customs, laws, and organizations.

Whistle-blowing

The act of exposing any kind of information or activity deemed illegal, unethical, or not correct within an organization.