Figure 4-13 ​

question 140

Essay

Figure 4-13
​
-Refer to Figure 4-30. In this market for tablet computers, more suppliers enter the market and the price of laptops, a substitute good, increases, while all other factors remain constant. Explain the change(s) in the equilibrium price and quantity.

---

Definitions:

Partnership Debts

Debts that are the responsibility of the business partnership as a whole, not just of individual partners.

Duty to Account

An obligation to provide a detailed report of financial transactions or holdings.

Duty to Maintain

The obligation to keep property, equipment, or systems in good working condition through regular care, repair, and upkeep.

Implied Authority

The authority of an agent to perform acts which are reasonably necessary to accomplish the purpose of an organization.