Which Document Gives Authority to an Agent to Act on Behalf

question 19

Multiple Choice

Which document gives authority to an agent to act on behalf of an incompetent principal, but is not effective until that incapacity occurs?

• A)letter of instruction
• B)health care proxy
• C)springing power of attorney
• D)living will

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Definitions:

Demand Shifts

Refers to the change in the quantity of a product that consumers are willing and able to buy at different prices, caused by factors other than the price of the product itself.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in market balance.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.

Lettuce Crop

The cultivation and production of lettuce, a leafy green vegetable commonly used in salads and other dishes.