"As the Price of Apples Goes Up,the Demand for Apples

question 28

Multiple Choice

"As the price of apples goes up,the demand for apples goes down." The author of this statement

• A) implies that price and demand are unrelated.
• B) uses the word "demand" when he should use the word "supply."
• C) uses the word "demand" when he should use the words "quantity demanded."
• D) implies that demand and price have a direct relationship.

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Definitions:

Apparent Authority

A form of authority that a third party reasonably believes an agent has, based on the actions or statements of the principal.

Actual Notice

The direct and explicit knowledge given to a person about a specific piece of information, ensuring they are aware of it.

Constructive Notice

Legal notice presumed by law to have been acquired by a person and thus binding on that person, regardless of actual knowledge of the notice.

Subagent

An agent appointed by another agent with the original principal's authorization, typically to help perform some duty or function.