Jack Was Fired by Bob but Decided to Try to Win

question 68

Multiple Choice

Jack was fired by Bob but decided to try to win back his job as agent by getting a big new contract. He approached Sharon, a new client, and made a pitch to sell Bob's product. Sharon agreed to buy 100. Jack tells Bob. What are the legal consequences?

• A) Bob has to hire Jack again and then make the deal.
• B) Bob would have to ratify the deal to get the benefit of the contract.
• C) Bob would have to negotiate the deal with Sharon himself.
• D) Jack would forfeit his commission if Bob took the contract.

Understand the basic characteristics of perfect competition.

Identify how prices are set in a perfectly competitive industry.

Calculate profit per unit and understand how it is maximized.

Distinguish between industry and firm demand curves in perfect competition.

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Definitions:

Sigmund Freud

An Austrian neurologist and the founder of psychoanalysis, known for his theories on the unconscious mind, sexual desire, and dream interpretation.

Personality Development

The process by which an individual's character, behaviors, and attitudes evolve over time, influenced by biological, social, and psychological factors.

Looking-glass Self

A concept in social psychology that proposes a person's perception of themselves is influenced by their understanding of how others view them.

Impression Management

The process individuals use to control and manipulate how they are perceived by others, often in social or professional contexts.