A Firm Offer Is an Offer ________

question 51

Multiple Choice

A firm offer is an offer ________.

• A) in which a fixed price is not mentioned for the goods or the services being sold
• B) in which the offeree is an individual and the offeror is an organization
• C) which is governed by the laws of the WTO
• D) that the offeror promises to keep open for a fixed period of time

---

Definitions:

Agricultural Products

Goods derived from farming and the cultivation of the land, such as crops, livestock, and raw materials.

Marginal Product

The additional output that results from using one more unit of a particular input, keeping all other inputs constant.

Labor-Supply Curve

A graph that shows the relationship between the wages workers receive and the amount of labor they are willing to supply.

Wage Affected

The impact on employees' earnings due to various factors like inflation, demand for labor, or changes in government policy.