An Agent Is Under a Duty to Obey

question 28

Multiple Choice

An agent is under a duty to obey:

• A) all instruction given by the third party.
• B) all lawful instructions given by the principal.
• C) all instructions given by the principal.
• D) none of the above,since "obedience" is not an obligation of the agent.

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Definitions:

Utility-Maximizing

The economic principle that individuals seek to get the greatest satisfaction or utility from their consumption choices, given their resources.

Peanut Butter

A food paste or spread made from ground, dry-roasted peanuts, often consumed as a source of protein and healthy fats.

Ice Cream

A sweetened frozen food typically eaten as a snack or dessert, made from dairy products or other ingredients and flavors.

Marginal Utility

The extra satisfaction or usefulness gained from consuming or acquiring one more unit of a product or service.