Which of the Following Is Not Something That Managers Can

question 55

Multiple Choice

Which of the following is not something that managers can do to make sure that ethical issues are considered in business decisions?

• A) Hire and promote people who have a strong sense of personal ethics
• B) Build an organizational culture that places a high value on ethical behavior
• C) Adopt the Friedman doctrine
• D) Act with moral courage
• E) Put decision-making processes in place that require people to consider ethical dimensions of business decisions

Analyze situations to determine optimal output levels for price-taker firms.

Identify conditions under which a firm should continue, reduce, or cease production in the short run.

Apply the principle of marginal revenue and marginal cost to decision-making in price-taker markets.

Interpret economic models and data tables to calculate profit, loss, and optimal production levels.

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Definitions:

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Introvert

A personality type characterized by a preference for solitary activities and environments over social interaction.

Schemas

Cognitive frameworks or structures that help organize and interpret information based on past experiences and knowledge.

Information Gathering

The process of obtaining data, facts, or feedback from various sources to support decision-making, research, or problem-solving.