It Will Only Be on Rare Occasions That Individuals Who

question 28

True/False

It will only be on rare occasions that individuals who are principals will find themselves in a position of having to ratify contracts made by their agents.

---

Definitions:

Indifference Curves

Graphical representations in consumer theory that show combinations of two goods among which a consumer is indifferent.

Downward Sloping

A term often used to describe a graph line indicating a decrease in one variable as another variable increases, such as price and demand.

Indifference Curves

Graphical representations that show combinations of two goods between which a consumer is indifferent.

Perfect Substitutes

Goods or services that can be used in exactly the same way and are interchangeable in consumption without affecting consumer satisfaction.