Based on Guidelines of Employer/employee Relations,which Statement Is True

question 3

Multiple Choice

Based on guidelines of employer/employee relations,which statement is true?

• A)company loyalty is an outmoded,illegitimate concept that employees today reject
• B)the traditional law of agency obliges employees to act loyally and in good faith and to carry out lawful instructions
• C)an employee's work contract is irrelevant to his or her moral obligations
• D)no value is more important than loyalty,whether to a person or an organization

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Definitions:

Marginal Revenue

The augmented income from the sale of one more unit of a good or service.

Pure Competition

A market structure characterized by a large number of buyers and sellers, free entry and exit, and a homogeneous product, leading to price taking behavior.

Competitive Firm

A business that competes in a market where it has some influence on the prices of its products or services but faces competition from other firms.