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nirvana33 [79]
2 years ago
8

April and Wayne are the buyer and seller of a condo, respectively. April is represented by Steve. Wayne is represented by Wanda.

Name the principal(s) in this transaction.
Business
1 answer:
Sedbober [7]2 years ago
8 0

Answer:

Both April and Wayne

Explanation:

As per common law, principal is a person who designates another person to establish legal relationship with a third party on behalf of him. The person who acts on behalf of the principal is called an agent.

In this case, Steve acts on behalf of April and enter into a contract with Wanda who acts on behalf of Wayne. So, April and Wayne are principals and Steve and Wanda are agents.

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B) Anticipatory Grief

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When the price of a bar of chocolate is $1.00, the quantity demanded is 100,000 bars. When the price rises to $1.50, the quantit
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Answer:

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= % change in Quantity/ % change in Price

a. Suppose the price increases from $1.00 to $1.50. The price elasticity of demand is:

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=\frac{P2 - P1}{\frac{P1 + P2}{2} } \\\\= \frac{1.5 - 1.00}{\frac{1.00 + 1.50}{2} } \\\\= 0.4

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b. Suppose the price decreases from $1.50 to $1.00. The price elasticity of demand is:

% change in Quantity using the midpoint formula;

=\frac{Q2 - Q1}{\frac{Q1 + Q2}{2} } \\\\= \frac{100,000 - 60,000}{\frac{100,000 + 60,000}{2}} \\\\= 0.5

% Change in Price using midpoint formula

=\frac{P2 - P1}{\frac{P1 + P2}{2} } \\\\= \frac{1.00 - 1.50}{\frac{1.00 + 1.50}{2} } \\\\= -0.4

= 0.5/-0.4

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