-Refer to Figure 12

question 76

Multiple Choice

-Refer to Figure 12.8.If both firms follow their dominant strategies,Firm B will earn profits equal to:

• A)$500.
• B)$700.
• C)$200.
• D)$100.

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Definitions:

Subagent

A person authorized by an agent to perform tasks or duties on behalf of the agent's principal.

Delegate Duties

The act of assigning specific responsibilities or tasks from one person to another, often in a workplace or organizational setting.

Agency Termination

The act of ending the relationship between an agent and their principal, which can occur through mutual agreement, fulfillment of the agency's purpose, or other legal means.

Apparent Authority

The appearance or assumption of authority based on the actions or statements of the principal, which leads a third party to believe that an agent has authority to act.