When an Offeror Invites Acceptance by Mail,it Is Possible for the Offeror

question 37

True/False

When an offeror invites acceptance by mail,it is possible for the offeror to state in the offer that the offer will only become a contract once acceptance is actually received by the offeror.That is,the postal rule does not apply even though an invitation to acceptance by mail was given.

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Definitions:

Profit-Maximizing

The process or strategy of adjusting production and pricing to achieve the highest possible profit within a market.

ATC

Average Total Cost; this refers to the total cost per unit of output incurred when producing goods or services.

Long-Run Equilibrium

A state in market conditions where all firms in a perfectly competitive industry earn zero economic profit, leading to the optimal distribution of resources in that industry.

MR

Stands for Marginal Revenue, which is the additional revenue gained from selling one more unit of a product or service.