Examlex

Solved

Write the Resource Constraints for This Situation: Kim and Lynn

question 64

Multiple Choice

Write the resource constraints for this situation: Kim and Lynn produce tables (x) and chairs (y) . Each piece is assembled, sanded, and stained. A table requires two hours to assemble, three hours to sand, and three hours to stain. A chair requires four hours to assemble, two hours to sand, and three hours to stain. The profit earned on each table is $20 and on each chair is $12. Together Kim and Lynn spend at most 16 hours assembling, 10 hours sanding, and 13 hours staining.


Definitions:

Vicarious Liability

Legal responsibility assigned to an individual or entity for the actions of another, based on a particular relationship, such as employer-employee.

Ratification Manifest

The overt expression or demonstration of approval or confirmation of an act or agreement, often legally required for ratification.

Material Facts

Information that could influence the decision-making process of a person or entity, considered significant in the context of legal and financial transactions.

Apparent Authority

A legal doctrine allowing a third party to rely on the representation of an agent that they have the authority to act on behalf of a principal, even if the agent lacks actual authority.

Related Questions