In Corporations, Which of the Following Are Agents but Not

question 35

Multiple Choice

In corporations, which of the following are agents but not principals?

• A)shareholders
• B)the board of directors
• C)managers
• D)workers

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Definitions:

Supply

The total amount of a good or service available for purchase at any given price level in a market.

Inelastic Demand

A situation where the quantity demanded of a good or service changes very little when its price changes.

Luxury

Goods or services that are considered superior in quality and are often expensive, catering to a more affluent consumer base.

Necessity

A good or service that is considered essential for survival, such as food, shelter, and healthcare.