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When Mr=Mc Ethical Efficiencies In Valuing And Pricing
When Mr=Mc Ethical Efficiencies In Valuing And Pricing

When Mr=Mc Ethical Efficiencies In Valuing And Pricing

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  • Pages: 1 (303 words)
  • Published: October 25, 2018
  • Type: Research Paper
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How do we determine value? What are the ethical implications of valuing goods and services with respect to economic profit maximization? To answer those questions, Primeaux and Stieber move their discussion of the ethical principles inherent to economic profit maximization from production to distribution, from internal costs to external pricing and consumer demand. In economics, profit maximization is the process by which a firm determines the price and output level that returns the greatest profit.There are several approaches to this problem. The total revenue -- total cost method relies on the fact that profit equals revenue minus cost, and the marginal revenue -- marginal cost method is based on the fact that total profit in a perfectly competitive market reaches its maximum point where marginal revenue equals marginal cost. The key issues If total revenue and total cost figures are difficult to procure, this method may also be used. For each unit sold, marginal profit equals marginal revenue minus ma

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rginal cost.

Then, if marginal revenue is greater than marginal cost, marginal profit is positive, and if marginal revenue is less than marginal cost, marginal profit is negative. When marginal revenue equals marginal cost, marginal profit is zero. Since total profit increases when marginal profit is positive and total profit decreases when marginal profit is negative, it must reach a maximum where marginal profit is zero - or where marginal cost equals marginal revenue.This research study sought to identify and categorize international marketing ethical problems that confront business managers.

The study focused on ten major ethical problems developed from previous exploratory research. Managers indicate that the most frequently cited ethical problem is "gifts/favours/entertainment" and the most important ethical problem is "large-scale bribery". However, there exist significant differences in terms of rankings and mean values of frequency and importance ratings for other ethical problems.

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