How Many Partners Must Agree to Modify a Partnership Agreement

question 73

Multiple Choice

How many partners must agree to modify a partnership agreement?

• A)All partners must unanimously agree.
• B)A majority must agree to the change.
• C)More than one but not necessarily a majority.
• D)Only one partner is needed to modify an agreement.

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Definitions:

Marginal Utility

The increased fulfillment or advantage obtained by using one more unit of a good or service.

Bundle A

Not a standardized economic term without context; appears to be a placeholder name for a specific set of goods and services.

Budget Constraint

An economic model that represents all the combinations of goods and services that a consumer can afford given current prices within their income level.

Marginal Utility

The additional satisfaction or benefit (utility) a consumer gains from consuming one more unit of a good or service.