_____ Refers to the Actions of an Organization That Target

question 73

Short Answer

_____ refers to the actions of an organization that target toward achieving a social benefit over and above maximizing profits for its shareholders and meeting all its legal obligations.

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Definitions:

Variable Costs

Costs that change in proportion with the level of output or business activity, in contrast to fixed costs.

Profit per Unit

The difference between the selling price of a product and its cost per unit.

Profit-maximizing Output

The level of output at which a company achieves the highest possible profit, where marginal cost equals marginal revenue.

Marginal Cost

The cost escalation resulting from the creation of one additional unit of a good or service.