The Utilitarian Philosophy for Business Ethics Primarily Focuses on

question 67

Multiple Choice

The utilitarian philosophy for business ethics primarily focuses on

• A) applying home-country standards of ethics in foreign countries.
• B) adopting the ethics of the culture in which a business operates.
• C) maximizing business profits by increasing employee productivity.
• D) ensuring justified treatment of any minority.
• E) weighing the benefits, costs, and risks associated with a course of action.

---

Definitions:

Total Cost

The sum of fixed costs and variable costs incurred by a business in the production of a good or service.

Average Fixed Cost

The fixed costs of production (such as rent, salaries, and equipment) divided by the quantity of output produced.

Total Variable Cost

The sum of all variable costs (costs that vary with production volume) associated with producing a specific amount of a good or service.

Marginal Cost

The supplementary expense arising from creating another unit of a product or service.