Exhibit 4-9 Refer to Exhibit 4-9

question 36

Multiple Choice

Exhibit 4-9 Refer to Exhibit 4-9.  Suppose that the government imposes a price ceiling at a price of $10.  _________ units would be exchanged in a free market, and ____________ units would be exchanged with the price ceiling in effect.

• A)150; 220
• B)150; 70
• C)110; 180
• D)150; 90

Distinguish between actual, implied, and apparent authority in the context of agency law.

Identify the legal consequences for agents acting outside the scope of their authority.

Analyze the tort liability of principals for the acts of their agents, including negligence, respondeat superior, and unauthorized acts.

Understand the doctrines of ratification and adoption in the context of unauthorized contracts.

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Definitions:

Media Sociology

The subfield of sociology that focuses on the study of how media as an institution and medium influences society and social norms.

Media Professionals

Individuals working within the media industry, including journalists, broadcasters, producers, and content creators, responsible for gathering, producing, and distributing media content.

Concept of a Role

The idea that individuals have specific socially defined positions with expected behaviors and responsibilities.

Roles

Roles refer to the functions, duties, or expected behaviors associated with a particular position or status within a social, organizational, or relational context.