When businesses enhance their reputations by being socially responsible, they hope to maximize _____.
A) utilitarian benefits
B) the opportunity cost of a choice
C) customers' willingness to pay
D) distributive justice

Question

Quizplus · Accepted Answer

When businesses enhance their reputation by being socially responsible, customers may be willing to pay more for their products or services. This is because customers value companies that prioritize social responsibility, and are often willing to support these companies with their purchasing power. Therefore, maximizing customers' willingness to pay is a key objective for businesses engaging in socially responsible behavior.

When Businesses Enhance Their Reputations by Being Socially Responsible, They