Figure 87 Figure 8

question 233

Multiple Choice

Figure 8.7 Figure 8.7 shows cost and demand curves facing a profit-maximising, perfectly competitive firm.
-Refer to Figure 8.7.At price P₃, the firm would

• A)lose an amount equal to its fixed cost.
• B)lose an amount more than fixed cost.
• C)lose an amount less than fixed cost.
• D)break even.

Evaluate the significance of ethics in business strategies and corporate social responsibility.

Discuss the potential conflicts and harmonies between ethical principles and legal requirements.

Critique ethical decisions in case scenarios based on underlying ethical theories.

Explain the concept of enlightened corporate self-interest and its impacts on corporate and social welfare.

---

Definitions:

Social Recognition Platforms

Online platforms that enable organizations to recognize and reward employees' contributions publicly, fostering a culture of appreciation and motivation.

Reinforcement

In psychology, a consequence applied that will strengthen an organism's future behavior whenever that behavior is preceded by a specific antecedent stimulus.

Pay-For-Performance Program

A compensation strategy where employees' pay is directly tied to their performance or achievements at work.

Positive Reinforcement

Positive reinforcement involves the addition of a rewarding stimulus following a desired behavior, aiming to increase the likelihood of that behavior being repeated.