The option that illustrates the concept of mutual agency is D. Jonah signs a purchase agreement with a supplier while Jaycee agrees to hire a marketing firm to drum up business.
- A Mutual agency simply means a legally binding relationship that is undertaken by business partners whereby each person can make a decision on behalf of the other person.
- In such a case, whenever there's a decision to be taken maybe the purchase of goods or payment, a partner can make the decision without having to inform the other person.
- Based on the illustrations above, since Jonah and Jaycee are partners, they can take decisions on behalf of each other.
In conclusion, Jonah can sign a purchase agreement with a supplier while Jaycee agrees to hire a marketing firm to drum up business.
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Answer:
The movement of the combinations, explained by your classmate, is presented in an equal way, which does not represent an opportunity cost. In order to be able to perceive a constant opportunity cost, the combinations should present different values, and the choice of one of them, would cause the loss of opportunity to submit to the results that would be obtained with the choice of the others. However, as all combinations are the same, choosing any one would give the same results.
Explanation:
A constant opportunity cost refers to the presentation of elements in a business that would happen differently from each other and that would present different profitable results in a constant and extended way, showing the value and benefits that each one has individually.
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