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Jean says to Joan,"If you'll promise to feed my dog each day while I am out of town next week,I'll pay you $100." Joan replies,"I'll absolutely do that,I hope you have a nice trip." Joan then feeds the dog,after which Jean paid her.At what point did a contract come into existence?
Willingness
The readiness of a person to engage in a particular action, especially in terms of purchasing goods or services.
Marginal Utility
The additional utility received from consuming one more unit of a good or service.
Total Utility
The complete happiness or advantage gained from using a specific amount of products or services.
Product Consumed
Refers to goods or services that have been used by consumers, fulfilling needs or wants.
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