How does competition affect producers and consumers

1 answer:

8 0

The general consensus is that competition between producers lowers the prices for consumers as the producers compete for the business of the consumers and lower the price to stay competitive. Conversely, competition between consumers leads to increased prices set by producers as they can get a higher price out of consumers who are competing over a product.

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d. bound by the contract, under a theory of agency by estoppel

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Marisol is bound by the contract because during the negotiation Charlie and Jamal, he created an appearance that will make Jamal believe that Charlie was his agent, he did not counter the claim that the bicycle was up for sale. Under the theory of agency by estoppel, a contract exist and is binding on a principal when he or she creates the appearance of an agency even though it actually does not exist. The action of Marisol created the impression that Charlie is his agent even though he actually is not so the contract is binding on him to sell the bicycle to Jamal.

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Your answer is A. I hope I helped you.

Explanation:

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