Pedro Has a Contract to Build a Garage

question 5

True/False

Pedro has a contract to build a garage.He delegates the wiring job to a local electrician who improperly performs it.
Pedro is responsible, even though he delegated the duty.

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Definitions:

Total Revenue

The overall amount of money generated by a business from the sale of its goods or services.

Long-Run Equilibrium

A state in which supply and demand are balanced, and all firms in the industry are earning normal profits in the long term.

Short-Run Equilibria

A market condition where supply and demand are balanced, but only temporarily as external factors can soon alter this balance.

Demand Increases

A situation where the quantity of a good or service that consumers are willing and able to purchase at a given price rises.