Which of the Following Is Not an Example of Nonprice

question 1

Multiple Choice

Which of the following is not an example of nonprice competition in the airline market?

• A)A low concentration ratio.
• B)Advertising on the radio.
• C)More on-time flights.
• D)Increased frequency of flights.

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Definitions:

Apparent Authority

A situation where a person appears to have been given the power by a company or another person to act on their behalf, even if no actual authority was granted.

Disclosed Principal

A situation in a business arrangement where the identity of the principal is known to all parties involved in the transaction.

Ratifies

To officially approve or confirm an action, agreement, or decision, making it valid and legally binding.

Contractually Bound

Contractually Bound indicates that parties have agreed to specific terms and conditions outlined in a contract, obligating them to fulfill their respective parts of the agreement.