There Is No Apparent Authority in an Undisclosed Principal Relationship

question 50

True/False

There is no apparent authority in an undisclosed principal relationship.

---

Definitions:

Elastic Demand

A market condition where the demand for a product or service significantly changes in response to changes in its price.

Long-Run

A period in which all factors of production and costs are variable, allowing companies the flexibility to make changes in production capacity and operations.

Few Substitutes

Refers to a market condition where there are not many alternative products or services available to consumers, which often leads to less competition and higher prices.

Inelastic Demand

A situation in which the demand for a product does not change much in response to price changes.