When Communication Between Parties Is by Fax, the Place Where

question 39

Multiple Choice

When communication between parties is by fax, the place where a contract is formed is:

• A) where the offeree resides
• B) where the offeror resides
• C) where the offeree receives the offer
• D) where the subject matter is located
• E) where the offeror receives the acceptance

---

Definitions:

Supply Curves

Graphs showing the relationship between the price of a good and the quantity of that good a seller is willing to supply.

Demand Curves

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.

Market Equilibrium

Market equilibrium is the condition in which the quantity supplied of a good matches the quantity demanded at a particular price, leading to a stable market condition.

Revenue Equation

An equation that calculates the total income generated from selling goods or services, often represented as Revenue = Price x Quantity.