How Do You Recognize an Ethical Issue in Business

question 6

Essay

How do you recognize an ethical issue in business?

Identify the characteristics and implications of constant-cost, increasing-cost, and decreasing-cost industries.

Differentiate between short-run and long-run decision-making in purely competitive markets.

Recognize the conditions under which firms enter or exit the market.

Comprehend the relationship between price, average total cost, and marginal cost in long-run equilibrium.

---

Definitions:

Sampled Population

The population from which the sample is taken.

Targeted Population

A group of individuals sharing one or several characteristics that a study is designed to analyze.

Standard Error

A statistical measure that estimates the accuracy with which a sample distribution represents a population by using the standard deviation.

Sampling Error

The difference between a population parameter and a sample statistic that results from selecting a sample.