Chan,Yuvi,Betty,and Bob Form a Manager-Managed LLC That Sells Antique Commodities

question 89

Multiple Choice

Chan,Yuvi,Betty,and Bob form a manager-managed LLC that sells antique commodities online.Yuvi and Betty are named managers of the LLC.Betty secretly starts a competing business to conduct online auctions over the Internet.Which of the following is true of the given scenario?

• A) All the members can be held liable for breaching their duty.
• B) Betty is liable for breaching her duty of loyalty to the LLC.
• C) Betty is liable for breaching her duty of care to the LLC.
• D) Betty can compete with the LLC without any legal liability.

Recognize the significance of random assignment and random sampling in minimizing bias.

Acknowledge the ethical considerations in psychological research, including participant rights.

Appreciate the relevance of studying psychological effects across different cultures.

Grasp the concept of replication in research to verify findings.

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Definitions:

Total Revenue

The total amount of money received by a company from sales of goods or services before any expenses are subtracted.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.

Tea Sales

This refers to the commercial activity of buying and selling tea in various forms and quantities.

Perfectly Price Inelastic

A situation in demand where the quantity demanded does not change regardless of changes in the price of a product or service.