As a Result of Heavy Spring Rains in the Midwest,the

question 12

Multiple Choice

As a result of heavy spring rains in the Midwest,the corn crop declined sharply.If corn growers experienced an increase in sales revenue,the demand for corn must be

• A)price elastic
• B)price inelastic
• C)unitary elastic
• D)perfectly inelastic
• E)perfectly elastic

---

Definitions:

Unidentified Principal

A principal in an agency relationship whose identity remains unknown to the third party at the time of the agency transaction.

Commercial Transaction Law

Governs the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales.

UAE Civil Code

A set of laws that regulate civil transactions within the United Arab Emirates, covering matters such as contracts, personal status, and property.

Compensation

Payment or reward given to someone for services rendered or losses incurred.