Which of the Following Is True of an Employer-Employee Relationship

question 33

Multiple Choice

Which of the following is true of an employer-employee relationship?

• A)An employee has implied power of attorney towards the principal.
• B)An employee has authority to act on behalf of the principal.
• C)An employee can enter into contracts on behalf of the employer.
• D)An employee is hired to perform a task or service.

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Definitions:

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product or service.

Market Output

The total quantity of goods or services produced and supplied in a market at a given time.

First-move Ability

The advantage or strategic benefit gained by being the first to act or move in a given situation, often discussed within the context of game theory and competitive scenarios.

Optimal Output

The level of production where a firm maximizes its profits or minimizes its losses.