Codes of Ethics Can Have an Impact in Which of the Following

question 126

Multiple Choice

Codes of ethics can have an impact in which of the following ways?

• A) They provide informal guidelines about dealing with ethical matters.
• B) They deal only with the employees' relationships with customers.
• C) They describe common ethical decisions faced by employees.
• D) They may be influential in determining a person's decision-making behaviour.

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Definitions:

Total Cost

The aggregate of expenses related to the creation of goods or services, which includes fixed costs and variable costs.

Long-Run

In economics, a period in which all factors of production and costs are variable, allowing for full adjustment to change.

Maximize Profits

A strategy or objective of firms to achieve the highest possible financial gain by optimizing production and sales, while minimizing costs.

Long-Run Cost Function

Describes the minimum cost at which a firm can produce any given level of output when all inputs, including capital, are variable.