Answer:
the definition of a market in determining the price elasticity of demand
Explanation:
In economics, the price elasticity of demand is the measure used to determine the responsiveness and the elasticity of a quantity demanded for a good or a service to increase in the price when nothing but only the price of the product changes. It is the measure to show the demand of a product in relation to the price change of the product.
In the context, Juan Carlos is is filling up a survey regarding the demand or purchasing of toothpaste when the price of the toothpaste changes. Thus this is important to study the price elasticity of demand of a product in the market economy.
An <u>implied agency</u> occurs when a principal and an agent do not expressly create an agency but is inferred from the conduct of the parties.
<u>Explanation</u>:
A principal is a person who is employed by another person to work on behalf of him. The principal has an authority to appoint the independent contractor into the contracts.
The agreement express agency is the agency of power of attorney. The agent is given power to control the legal document through the express agency agreement. Power of attorney provides the authority to the agent to sign the legal documents on behalf of the principal.
I agree your an idiot for not knowing.