The Degree to Which Outcomes Are Allocated Without Regard to Ethnicity

question 274

Multiple Choice

The degree to which outcomes are allocated without regard to ethnicity, race, gender, age, or other individual differences criteria is the concept of

• A) distributive justice.
• B) moral justice.
• C) ethical management.
• D) procedural justice.
• E) equitable policy.

---

Definitions:

Average-fixed-cost Curve

A curve that shows the relationship between the average fixed cost of producing a good and the quantity of the good produced, typically declining as production increases.

Marginal Product

The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.

Explicit Costs

Direct, out-of-pocket expenses paid by firms for inputs to production, such as wages, rent, and materials, as opposed to implicit costs which are not directly paid out in cash.

Implicit Costs

The opportunity costs that are not directly paid for or incurred during the production of a good or service.