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Describe an Ethical Dilemma You Have Faced (It Can Be

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Essay

Describe an ethical dilemma you have faced (it can be as simple as admitting you were undercharged by a cashier).Illustrate how you applied the ethical decision framework in making your final judgment of what to do.


Definitions:

Perfectly Elastic

A situation in economics where the quantity demanded or supplied responds infinitely or vastly to any change in price.

Elasticity Measures

These are metrics used in economics to assess how the quantity demanded or supplied of a good changes in response to changes in price or other factors.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with elasticity greater than one indicating a high responsiveness.

Elasticity

A measure in economics of how the quantity demanded or supplied of a good changes in response to changes in price or other factors.

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