Micro Chapter 25 Practice Questions Key 1. Derived demand is the demand: A) that arises because of monopoly control of resources in a market. B) for a product based on the tastes and preferences of consumers. C) derived from consumer satisfaction with a product. D) for a resource to produce a product. Answer: D 2. Marginal revenue product is the increase in: A) total revenue from a decrease in the price of the product. B) marginal revenue from a decrease in the price of the product
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T$ HU4640 3/29/14 Unit 1 Assignment 3 Would You Throw the Switch In reading the Ethics problem box regarding the Trolley Problem I will attempt to answer the question of would I throw the switch. I have had the chance to research different profiles to try and answer this question. The first profile is Ayn Rand. I don’t think that she would have thrown the switch base off her theory about the “virtue of selfishness”. Her theory promotes the philosophy of Individualism. Individualism states
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Ethics & Reality TV Should We Really Watch? Media both in America and around the world seem to have "discovered" that so-called "reality" shows are very profitable‚ resulting in a growing string of such shows in recent years. Although not all are successful‚ many do achieve significant popularity and cultural prominence. That does not mean‚ however‚ that they are good for society or that they should be aired. The first thing to keep in mind is that "Reality TV" is nothing new - one of the most
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As a Certified General Accountant (CGA)‚ ethics are a fundamental requirement. CGAs affect the welfare of their clients and also the wider stakeholder-society. It is crucial to work in accordance with the six CGA Canada Code of Ethical Principles. Fraud and negligence do occur however and they have negative implications on the professional‚ the client‚ the professional body‚ and society as a whole. For example‚ in the case of Kelley Lynch‚ she was trusted by her client‚ Leonard Cohen‚ to work responsibly
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Ethics of Profit‚ Part 3: The Profit Motive Posted March 29‚ 2011 Filed under: character‚ competition‚ corporations‚ decision-making‚ ethics‚ finance‚profits‚ white collar crime | This is the third in a 3-part series on the ethics of profit. (See also Part 1 and Part 2.) As mentioned in previous postings‚ we should distinguish between our ethical evaluation of profit per se (which‚ after all‚ just means financial “gain”)‚ and our ethical evaluation of the profit motive. After all‚ I don’t worry
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Ethics Paper Submitter to: JERRY VAN HAMME RGS6036.21 ETHICS: DECISION MAKING Amberton University 2/16/2013 Submitted By: Rajat Shrestha Amberton University The decision making process can sometimes be a difficult one. There are many factors that may go into the process of decision making. Some of these factors may include who will be affected by the decision‚ how will they be affected‚ and is the decision ethical. Many times it is not easy to know what is considered ethical or
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Ethics Audit Questions HSM/230 TARA HORN Michael Cottone 01/08/2015 Board Who gives the board a sense of accountability? Do they answer to someone with a higher authority or is it decided between the members? This question is important to assessing the ethical code of a business or organization by helping to understand that everyone needs to be accountable to someone. As a manager I am responsible for the 15 people working under me and the everyday functioning
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1. StillWater Mining Company a) Interest Rate 12% Price per ounce $ 1‚500.00 Cost per ounce $ 400.00 Total ounces a year 10‚000 Profit per ounce $ 1‚100 Revenue per year $ 15‚000‚000.00 Cost per year $ 4‚000‚000.00 Profit per year $ 11‚000‚000.00 Every year for the next 10 years‚ the firm earns a profit of $11 Million. The cash flow (in $ Million) is shown below: Year T T+1 T+2 T+3 T+4 T+5 T+6 T+7 T+8 T+9 Profit 11 11 11 11 11 11 11 11 11 11 Using NPV formula‚ we find NPV=$62
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basic FOUR MANAGEMENT FUNCTIONS. The success of any business organization depends on how the four functions of management are implemented. These management functions allow an organization to handle its business strategy‚ tactical and operational decisions. The aim of the paper is to discuss the four functions of management namely; PLANNING‚ ORGANIZING‚ DIRECTING or LEADING and CONTROLLING. A. PLANNING This is the first management function and it is a very important area of all the four functions
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meaning moderation or self-restraint. As you continue to read‚ I will be discussing a little on critical thinking‚ responsibility and I will also point out a couple down falls. You will discover briefly‚ how I feel about responsibility and my work ethics. Critical thinking is something I do every day both at work and at home. When I take on a new job or project‚ I use critical thinking to analyze a problem and learn how to solve it. I find myself at my best when I am aware of my duties
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