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You are the general manager of a regional chemical company. In the course of producing your bulk chemicals, large amounts of particles and smoke are emitted through your plant's smokestack. The level of pollutants is below current Ministry of the Environment regulations, and you are violating no laws, but neighborhood groups are complaining about minor health problems caused by the smoke. After investigating numerous alternatives, you find that the most effective solution would be to install an Ascrubber" system which would remove 90 percent of the pollutants and ash. Cost: $1 million. Do you install the system? The above situation presents ethical questions for the business. Discuss the situation from
a. from a strictly legal viewpoint,
b. from a moral and ethical viewpoint,
Be sure to consider both short- and long-range consequences. Also look it from the perspective of all groups concerned: customers, stockholders, employees, government, and community
If a firm's production function is given byQ = f(K, L) = K + L, (4)where Q is the number of units of output, K is capital and L is labor.(a) (2 points) Derive the average product of labor (AP L) and the average product of capital(APK)(b) (2 points..
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