Leonard Stern,the Chairman of Hartz Mountain,was Concerned and Outraged at the Condition

question 146

Multiple Choice

Leonard Stern,the chairman of Hartz Mountain,was concerned and outraged at the condition of New York City's homeless living in shelters and welfare hotels,and was determined to help them.Hartz Mountain backed loans for construction of clean,safe housing complexes,and helped create social programs to help homeless families.These efforts by Hartz Mountain are an example of a company's social responsibility to:

• A)consumers.
• B)investors.
• C)employees.
• D)the community.

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Definitions:

Marginal Cost

The sum required to produce an extra unit of a product or service.

Variable Input

An input in the production process that can be adjusted in the short run to change the level of output, such as labor hours or raw materials.

Marginal Cost

The investment required to manufacture one more unit of a product or service.

Diminishing Marginal Returns

A principle stating that as one factor of production increases, while others stay constant, the additional output will eventually decline.