Perfectly competitive markets are allocatively efficient when all of the following are true EXCEPT: a. People are given equal amounts of goods b. When consumers are price takers and have perfect information c. When firms are price takers and have no barriers to entry or exit and produce a homogenous good. d. When input and output prices reflect their true social value (social cost)

Ethics refers to fundamental principles of right and wrong; ethical behavior is behavior that is consistent with those principles. hrm decisions should be ethical, but the evidence suggests that is not always the case. many ethical issues in the workplace involve hrm. in the context of ethical human resource management, hr managers must view employees as having basic rights. in this activity, you will look at the four principles for ethical behavior and the basic rights employees should expect in the work environment. hr managers must view employees as having basic rights, for such a view reflects ethical principles embodied in the u.s. constitution and bill of rights. organizations often face situations in which the rights of employees are affected. ethical, successful companies act according to four principles: emphasizing mutual benefits, employees assuming responsibility for the actions of the company, companies having a sense of purpose or vision that employees value, and emphasizing fairness.