Herman Writes a Note to Gerard, the Manager of the Neighborhood

question 59

Multiple Choice

Herman writes a note to Gerard, the manager of the neighborhood grocery store, asking him to allow Bernard, Herman's restaurant manager, to charge $500 worth of groceries to the restaurant's account at the grocery store. This is an example of which of the following?

• A) Nontrading partnership
• B) Apparent authority
• C) Implied authority
• D) Expressed authority
• E) Actual authority

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Definitions:

Discount Sources

Various origins from which price reductions can be obtained, such as coupons, sales promotions, or bulk buying.

Cost Function

A mathematical formula used to calculate the total cost of production based on the quantity of goods produced.

Used-Car Dealer

A business specializing in the resale of previously owned vehicles, often offering trade-in deals and warranty services.

Stackelberg Leader

A concept in game theory and economic models where one firm (the leader) sets its output or price before another firm (the follower), influencing the follower's decisions in a competitive market.