Apparent Authority Protects Third Parties Who Reasonably Rely on the Principal's

question 72

True/False

Apparent authority protects third parties who reasonably rely on the principal's manifestations that the agent has authority.

Explain the difference between marginal social benefit (MSB) and marginal social cost (MSC).

Analyze scenarios to determine socially optimal levels of public goods and externalities.

Describe the concept of a Pigouvian subsidy and its application for external benefits.

Understand the implications of technology spillover in relation to positive externalities.

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Definitions:

Output

In economic and production contexts, this refers to the total amount of goods or services produced by a company or economy.

Actual Cost

The true expenditure incurred for manufacturing, operations, or project activities.

Direct Material

Materials directly related to the production of a product, which can be specifically identified as part of the product and form a large part of its manufacturing cost.

Per Pound

A unit of measure used to express the price or cost of a commodity, production materials, or shipping rates based on weight in pounds.