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Using the midpoint method,the price elasticity of demand for a good is computed to be approximately 2.Which of the following events is consistent with a 0.1 percent increase in the price of the good?
Undisclosed Principal
A situation in a contract where the agent acts on behalf of a principal whose identity is not revealed to the third party.
Satisfied Judgment
A court decision that has been fully complied with, where all ordered payments or actions have been completed.
Respondeat Superior
A legal doctrine that holds an employer or principal legally responsible for the actions of an employee or agent when performed within the scope of employment or agency.
Independent Contractor
An individual or entity contracted to perform work for— or provide services to—another entity as a non-employee.
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