Exhibit 1-4 -According to the Curve in Exhibit 1-4,if P Increases from P

question 39

Multiple Choice

Exhibit 1-4
-According to the curve in Exhibit 1-4,if P increases from $10 to $14,Q

• A)stays the same
• B)Q increases from 6 to 8
• C)Q increases from 6 to 10
• D)Q decreases from 6 to 2
• E)Q decreases from 6 to 0

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Definitions:

Necessary Ingredient

An essential component or element required for a particular process, action, or outcome to occur.

Franchise Agreement

A contract whereby a company (the franchisor) grants permission (a license) to another entity (the franchisee) to use the franchisor’s name, trademark, or copyright in the operation of a business and associated sale of goods in return for payment.

Termination

The act of ending something, such as employment or a contract, often following a specific procedure or due to certain conditions being met.

Uniform Franchise Termination Act

A legal statute that standardizes the process and conditions under which a franchise relationship can be terminated.