Should firms be interested in morals & ethics and not just their profits? What do you think should motivate companies? What else besides profits should they be thinking about? Can anyone come up with examples where the company is concerned about ethics & morals?

Should firms be interested in morals & ethics and not just their profits? What do you think should motivate companies? What else besides profits should they be thinking about? Can anyone come up with examples where the company is concerned about ethics & morals?

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter8: Output, Price, And Profit: The Importance Of Marginal Analysis

Section8.A: Appendix The Relationships Among Total, Average, And Marginal Data

Problem 1TY

See similar textbooks

Related questions

Q: ake the product, should you go ahead and d

A: Any decision regarding the production of goods by a firm depends upon the maximum profit it can get…

Q: Joan is an employee of a manufacturing company. She was called to the office of her boss one day.…

A: Yes , this type of behaviour is totally not suitable for a business organizations. Attitude is just…

Q: adidas Low Prices $8 million $10 million $2 million $6 million $4 million $2 million Low Prices $10…

A: When both the players are playing according to their self-interest, it can be said that both the…

Q: Fast is an American car company. Fast discovered important differences in the attitudes of people in…

A: When developing and implementing a company's marketing strategy, it's critical to include social and…

Q: Each worker gets equal pay. Fill in Average Product and Marginal Product. At what input level will…

A: Average product is the output produced by each unit of worker and marginal product is the additional…

Q: 1. Analyze a business owner’s decision making regarding whether to enter a market. For example, what…

A: In economics, there are 4 types of market structures that can be considered in simulation, among…

Q: is there an evidence that having two close outs in a month has beneficial effect on sales ?

A: Sales: It refers to the goods and services that are produced by the firms and are sold in the…

Q: Some producers do not stop their production when they face loss in their production. Why?

A: A producer is one that is responsible to maintain the availability of products and services in the…

Q: The manager of XYZ company is trying to increase the sale of a product by developing plans that will…

A: The marketing strategy outlines the target segment of the population, the advertisements, and the…

Q: How much time do people in the oilfields work and how much time do they have on vacations (oilfields…

A: Anyone who has ever worked knows that no job is perfect; however, the advantages and disadvantages…

Q: Coase suggests that if we take conventional economics seriously then we would not expect to see…

A: Coase’s argument is that if markets are so efficient and have perfect coordination, then why is…

Q: In SMC Company, staff are told to follow diligently the company code of ethics and abide by company…

A: A code of ethics is one of the essential elements for a company's environment as it clearly lays out…

Q: Discuss the concept of fairness in economic decision making and how an understanding of this can…

A: In economics, a significant portion of the research on justice has concentrated on prices and…

Q: READ THE CASE STUDY AND HELP ME ANSWER THESE 4 QUESTIONS! Questions: What do you think really…

A: 1. What do you think really happened in this case? As per me, another worker recruited on a legally…

Q: The Mustangs Ultimate Frisbee team is selling tickets to an end-of-year BBQ. They sell 500 tickets…

A: The total revenue (TR) for a producer or a seller is the product of the price (P) received and the…

Q: f you are conducting research on the ways in which executive directors manage their businesses,…

A: Reserch is a systematic work which is increase the knowledge , research includes many steps like…

Q: Remember the Hawthorne Studies from Business & Society, Principles of Management, and/or…

A: 1. The idea of reasonable expectation of privacy has changed over the years just as business…

Q: Suppose you are Marketing Manager of a Football making company. What Macro Environmental factors…

A: Macro Environmental factors are uncontrollable external forces that impacts decision making of a…

Q: What are the types of quantitative and subjective methods used in evaluating and control the…

A: Quantitative procedures are advantageous since they require less time to implement than subjective…

Q: Does Design & build or Management Procurement methods or strategies can improve the system of…

A: Introduction Tradition approach also help in developing new approach because as time goes on…

Q: describe of How managerial economics works in our professional life (example please) and personal…

A: Managerial economics is a branch of management studies that focuses on using macro and microeconomic…

Q: Data mining” How can data mining help profit-seeking firms? How is data mining used in accounting?…

A: Data mining is the analysis of oftenly large observational data sets to find unsuspected relatioship…

Q: d. If Tommy and Ariel wanted to cheat, they might realize that they will get more done if they…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: organizational behavior research contribute to the improvement of productivity and efficiency ?…

A: Organizational Behavior (OB) is the multidisciplinary investigation of the worker cooperations and…

Q: A company hires you as an HR consultant to guide the company about its change process from…

A: In a team-based organizational structure, all employees are given importance. Employees have more…

Q: ... oth firms bid $130 million. e firm bids $120 million, the other firm bids $130 million. th firms…

A: The prisoners dilemma is a standard illustration of a game dissected in game hypothesis that shows…

Q: How do you measure personal brand value? How do you determine that a person's personal brand value…

A: The financial value of a brand as stated on a balance sheet is used to determine its value. A…

Q: 17. From an economic perspective, why should the best teacher in the world never teach? (A) Because…

A: Meaning of Economics: The term economics refers to the situation under which there remain…

Q: J 7 Though many MNCs espouse and follow rigid codes of social responsibility in their home countries…

A: Corporate codes of conduct are individual corporate policy declarations that outline a corporation's…

Q: What does it mean that “ideally, utilization should be limited by demand and not setup or down…

A: Answer: Answer is push system.

Q: Mercedes Benz seem to win every time with their social media campaigns. The one that stands out to…

A: Disclaimer: Since you have asked multiple question, so we will solve the first question for you. If…

Q: 22. An office manager is concerned with declining productivity. Despite the fact that she regularly…

A: The office is being monitored by the manager and it is clearly mentioned that the manager monitors…

Q: Describe large bureaucratic organizations with which you have had contact with that has not…

Q: Why do you think it is important for managers to understand the mechanics of short- and long-term…

A: *Answer:

Q: What are the main causes of inefficiency in most firms? Should firms use accounting profits or…

A: Inefficiency: Inefficiency refers to the lack of innovation which results in the high cost of…

Q: How can organizational context influence the decisions made by organizational members?

A: The term organizational context refers to the context of the organization which includes :- how big…

Q: 2020, Mr. Adam had two options: either he could start Business A or he could start Business B. What…

A: Implicit Cost or Opportunity cost, is the cost incurred by an individual, when they choose one…

Q: n an attempt to adopt a system to enhance organizational performance, Mr. Addison is torn between…

A: The decision making system of the organizations should be such that it helps in further analysis of…

Q: How would you describe Black Diamond’s ethics in terms of how it treats its employees at the…

A: a)Black Diamond holds high moral standards for the treatment of its staff The black diamond used to…

Q: One of the most fascinating aspects of research is its omnipresence. What does this statement mean?

A: The research is basically defined as an investigation which is undertaken to study various sources,…

Q: ST 40,000 (Commerce 5,000; Medicine 15%; AB 20%; Law 5% and others) Average price per computer…

A: Concentration is the mental effort you put forth to focus on whatever you're working on or learning…

Q: What would be the effect on the U.S. federal budget of single player system? Would the proportion of…

A: Single-payer healthcare is a sort of universal healthcare in which the costs of essential healthcare…

Q: According to Michael Porter, the conventional wisdom in business and economics is that there is a…

A: Harvard Business School professor Michael Porter is here to make the case that business can help…

Question

100%

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

What is the relationship between Ethics and Business? Please use examples from current events as it relates to business, economics, and society. Is ethics necessary for leadership or is leadership necessary for ethics? Why do we need to be able to convincingly explain why something should be viewed as right and fair? explain it at least in 300 words please
tab aps ck Codes of honor, conduct and ethics have their origins in O a) Religion b) Ancient precepts of normative behavior O c) Professions O d) All of the above Q A N 72 W 1 S X #3 E + D 4 C R % 45 T V G B H U Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Explain how your charity will make a difference to that counrty. is it a sustainable project? Discuss your views. (100 - 150 words) - plz answer this question it is not an essy, it is a homework given for a group ( its about establishing acharitable organization that help children in India and help to get their full rights. e.g. health and other things)
Economics should be the preserve of only finance students. For me as a management student, it is much ado about nothing. Why should I be concerned with economics? These are the words of a first year HND Sec and Management. student contemplating on the relevance of economics. As a seasoned scholar how would you address the concerns raised? Justify your position
1. What is the importance of Economics in decision making to those in business sector? Thank you for answering:)
Explain it early b, c and d early and correctly
A. How much is the net profit using the first method? B. Which Method is better?
1.3 Differentiate amongst total product, average product and marginal product. Motivate your answer with the aid of examples.
What are the usual steps in Benefit – Cost Analysis? a) Try to figure out what result or conclusion you want, and then set the assumptions to make sure the analysis produces that result. b) Identify the potential benefits and figure out a way to valuate them. c) Identify the potential costs and valuate them. d) Dismiss those benefits and costs to which you cannot assign a numerical value e) Estimate the probability of each of the benefits and costs actually materializing or occurring. f) Mulltiply the value of costs and benefits by their respective probabilities to arrive at the "mathematical expectation" or "mathematically expected" value. g) For costs and benefits expected in the future, especially distant future, discount their value to the present time, using a "reasonable" discounting rate.
Define ‘business ethics. (B) Explain how the focus on ethical and social responsibilities can be advantageous to a business. Provide ONE example to illustrate your answer.
Apply CAGE (Only Administrative and Economics). What are the country conditions that made Brazil a conductive environment for the successful deployment of Monsanto's technology? Compare Brazil with the United states using the metrics you selected.
Which of these 4 descriptions is correct?