Which of the Following Statements Is True About Business Ethics

question 1

Multiple Choice

Which of the following statements is true about business ethics?

• A)A firm that has ethical management will succeed financially.
• B)Codes of ethics should cover every business ethics issue.
• C)Business ethics focuses more on laws over values.
• D)Individuals apply the same ethical rules in business as they do at home.
• E)There is no conflict between profits and business ethics.

Calculate monopolist profits, consumer surplus, and deadweight loss using graphical analysis.

Understand the principles of price discrimination and its effects on consumer surplus, producer surplus, and market efficiency.

Assess the effects of a monopoly market structure transforming into a perfectly competitive one on prices and outputs.

Identify the relationship between price elasticity of demand and total revenue for monopolists.

---

Definitions:

Intercompany Sales

Transactions involving the exchange of goods or services between subsidiaries of the same parent company.

After-Tax Dollar Value

The net value of an investment, income, or transaction after accounting for the effects of income taxes.

Realized Profits

The gains earned and received from the sale of assets or investments.

Tax Rate

The rate at which a person or company is taxed by the state.