Allocative Efficiency Is Absent If Price Exceeds Marginal Cost

question 15

True/False

Allocative efficiency is absent if price exceeds marginal cost.

Analyze factors influencing ethical and unethical behaviors among individuals and groups in organizations.

Recognize the impact of competition and goal setting on ethical decision-making.

Explain the concept of bounded ethicality and its implications for personal and organizational ethics.

Identify differences in ethical perceptions and behaviors based on demographic factors such as age and gender.

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Definitions:

Self-Direction

The ability or process of guiding oneself to accomplish objectives and goals based on personal judgment and motivation.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, policies, or societal expectations.

Longitudinal Study

A research method that involves repeated observations of the same variables (e.g., people) over short or long periods of time to detect patterns, changes, and possibly predict future developments.

Genetic Factors

The aspects of an individual's genes or heredity that influence their characteristics, including physical traits, behaviors, and susceptibilities to certain conditions.