Julie Is Sales Manager for Kelso's Concrete & Stone Products

question 48

Multiple Choice

Julie is sales manager for Kelso's Concrete & Stone Products, Inc. In applying ethical principles to the business of the firm, Kelso's and Julie will most likely evaluate​

• A) ​what duties and responsibilities should exist for the business.
• B) ​how to maximize profits in the short run
• C) ​how to maximize profits in the long run.
• D) ​marketing campaigns to counter potential bad publicity.

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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.