In Agreeing to Act on Behalf of the Principal,the Agent

question 48

True/False

In agreeing to act on behalf of the principal,the agent becomes a fiduciary.

---

Definitions:

Price Discrimination

The strategy of selling the same product to different customers at different prices based on willingness to pay, rather than differences in production costs.

"Fair Return" Price

A price set at a level intended to allow a firm to cover its costs and earn a reasonable profit, often regulated in public utility sectors.

Pure Monopolist

A market scenario where a single supplier controls the entire supply of a unique product or service, with no close substitutes available.