When the Offeror Insists That the Offeree Accept the Offer

question 21

Multiple Choice

When the offeror insists that the offeree accept the offer by telephone, the offeree:

• A)can accept the offer in any way.
• B)can accept the offer by telephone or by any other means of instantaneous communication.
• C)must accept the offer by telephone.
• D)can accept by post according to the postal rule.

---

Definitions:

First-degree Price Discrimination

A pricing strategy where a seller charges the maximum possible price for each unit consumed, tailored to the buyer's willingness to pay.

Incremental Revenue

The additional income received from selling one more unit of a product or service.

Marginal Revenue

The additional income received from selling one more unit of a good or service; it is a critical concept in deciding the optimal quantity of goods to produce.

Price Discrimination

The practice of charging different prices to different consumers for the same product or service, based on their willingness to pay.