Kate Could Not Attend the Last Shareholders' Meeting and Thus

question 1

Multiple Choice

Kate could not attend the last shareholders' meeting and thus she granted the authority to vote on her behalf to the managers of the firm.Which term applies to this granting of authority?

• A)Straight
• B)Cumulative
• C)Consent-form
• D)Proxy
• E)In absentia

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Definitions:

Supply

The total amount of a good or service that producers are willing and able to sell at a given price over a certain period.

Consumer Surplus

The rift between what consumers are economically prepared to spend on a service or product and their actual spending.

Consumer Surplus

The divergence between the total consumers can and are willing to pay for a product or service and what they truly pay.

Binding Price Floor

A government-imposed minimum price set above the equilibrium price, resulting in a surplus by preventing the market price from falling to its natural level.