Social responsibility of business is to increase profits

Reference no: EM13223163

In "The Social Responsibility of Business Is to Increase its Profits," what economic idea is the author alluding to by stating that the social responsibility of business is to increase profits? Explain. What does Friedman mean when he equates social responsibility to "taxation without representation?" Friedman states that the principle underlying the market mechanism is "unanimity." Provide examples of this "unanimity" in the market mechanism.

Reference no: EM13223163

Questions Cloud

Explain ethyl acetate and hexanes : There is a mixture that is soluble only in methylene chloride. I wanna run the column in 10% Ethyl acetate/hexanes. Which method of column loading should I use in this case and why?

Problem - newsboy model : How many cakes with Devilicious frosting should Betty prepare daily in the morning if her objective is to maximize expected profit? What is the associated expected profit and what is the associated expected profit?

How much should the store charge for an annual membership : A local video store estimates that their average customer's demand per year is P = 3.5 - 0.5Q (all customers are identical), and knows that the marginal cost of each rental is $0.5. How much should the store charge for an annual membership

Calculated field to display that age value on your report : If a field is calculated, everyone, where is the expression for that calculation going to be coded? There are a couple of options.

Social responsibility of business is to increase profits : The Social Responsibility of Business Is to Increase its Profits

Explain smaller particle size of the stationary phase : Is smaller sample capacity the only disadvantage to smaller particle size of the stationary phase? Is that correct and/or is there any other disadvantage(s)?

What would be the impact on per game viewership : Consider a scenario where a college conference (such as the SEC, Big Ten, Big 12, etc.) negotiates the television broadcast rights for all of its teams' games. a. What would be the impact on the number of games televised.

Explain sodium chloride nacl is placed in a calorimetric : In a lab exercise 2.43 grams of sodium chloride NaCl is placed in a calorimetric cup containing 50 mL of water at 19 degrees celcius. After mixing the solution temperature is 16.5 degrees celcius.

Why the game has two pure strategy nash equilibria : (b) The game also has a mixed strategy Nash equilibrium. Find the equilibrium probability that each country will act tough as a function of k. (c) Does the equilibrium probability that a country will act tough rise, fall, or remain constant as k ri..

User Account

All Pages