For Every Consumer Who Purchases a Pair of TOMS Shoes

question 31

Multiple Choice

For every consumer who purchases a pair of TOMS shoes for $55.00,the company promises that a child will receive a pair of shoes.TOMS shoes is actively engaging in

• A) corporate social responsibility.
• B) business ethics.
• C) marketing ethics.
• D) environmental marketing.
• E) overpricing its products.

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Definitions:

Economic Profits

Profits that exceed the opportunity costs of all inputs, considering both explicit and implicit costs.

Economic Consultant

A professional who provides expert advice on economic strategies, market analysis, policy formulation, and financial planning to businesses or governments.

Short Run

An economic duration where a minimum of one factor, like the size of a facility, remains constant and unchangeable.

Profit-Maximizing Price

The price level at which a firm can generate the maximum possible profit, considering the relationship between price, demand, and cost.