In Which of the Following Situations Is the Agent Not

question 14

Multiple Choice

In which of the following situations is the agent not liable should the principal breach the contract with the third party?

• A) none (Agents are liable in all agency situations.)
• B) partially disclosed agency
• C) undisclosed agency
• D) disclosed agency

Comprehend how total and marginal utility impact consumption decisions.

Identify the economist Alfred Marshall's contribution to the concept of consumer surplus.

Analyze the relationship between consumption quantity and consumer surplus.

Understand how marginal utility affects decisions in utility maximization.

---

Definitions:

Quota

A limit set by a government on the amount of a particular product that can be imported or exported within a certain period.

Specified Amount

A specified amount refers to a particular or agreed sum of money or quantity of a resource or asset.

Tariff

A tariff is a tax imposed by a government on goods and services imported from other countries, used to restrict trade, as they increase the cost of imported goods and services, making them less competitive than domestic goods.

Domestic Consumers

Individuals or households within a country that purchase goods and services for personal use.