In a Partially Disclosed Principal Relationship,who Is Liable to the Third

question 7

Multiple Choice

In a partially disclosed principal relationship,who is liable to the third party on a contract within the agent's authority?

• A)principal
• B)agent
• C)both a and b
• D)none of the above

---

Definitions:

Labor Demand Elasticity

The sensitivity of employers' demand for labor to changes in the price or cost of labor, reflecting how much the quantity of labor demanded responds to changes in wages.

Total Costs

The cumulative costs associated with the complete process of producing and selling a product or service.

Labor Cost

The total expenditure incurred by employers for the wages, benefits, and taxes of their workforce.

Marginal Revenue Productivity

The additional revenue generated by hiring one more unit of a factor of production, such as labor.