Which of the Following Four Firms Would Most Likely NOT

question 8

Multiple Choice

Which of the following four firms would most likely NOT be part of a perfectly competitive market?

• A) Mark sells his tomatoes at the local farmers market.
• B) The WaveHouse is the only place in San Diego where you can ride an indoor 10 foot wave.
• C) Village Pizza sells pizza in a college town.
• D) Space Age Fuel is a gas station in Bend, Oregon.

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Definitions:

Durable Power of Attorney

A legal document granting someone the authority to act on another's behalf in legal and financial matters, which remains effective even if the grantor becomes incapacitated.

Authority

refers to the lawful right or power to make decisions, give orders, or enforce laws.

Incapacitation

A state of being unable to act or make legal decisions due to physical or mental limitations.

Undisclosed Principal

A principal whose existence is not known by a third party. That is, the third party does not know that an agent is acting on behalf of a principal.