Which of the following statements is true?
A) Companies are price-takers when their products are unique.
B) Companies are price-setters for a product when there is intense competition.
C) Companies are price-takers for a product when the pricing approach emphasizes cost-plus pricing.
D) Companies are price-takers when they have little or no control over the prices of their products or services.
D
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When a listing agent signs an agreement, in reality he or she is
A. signing on behalf of a cooperating broker. B. signing on behalf of all licensees in the company. C. signing on behalf of all other MLS licensees. D. signing on behalf of the indicated broker
When Ellen completed her life insurance application, she answered "No" to the question, "Have you ever had hepatitis?" She had hepatitis two years ago. If Ellen dies shortly after the policy is issued, the insurer may be able to deny the claim because of the doctrine of:
(a) concealment (b) insurable interest (c) warranty (d) misrepresentation