Which of the Following Is a Requirement for the Acceptance

question 9

Multiple Choice

Which of the following is a requirement for the acceptance of an offer to be valid?

• A) Acceptance of the offer must be made through a set of prescribed procedures.
• B) The acceptance must be communicated by the offeree to the offeror.
• C) The acceptance should be made through a mere mental intention to accept the offer.
• D) Acceptance of the offer must be made after a binding contract has been formulated.

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Definitions:

U.S. Postal Service

A federal agency responsible for providing postal services in the United States, known for delivering mail and packages domestically and internationally.

Natural Monopoly

A market situation where a single supplier is most efficient in producing or supplying goods or services due to high fixed or startup costs.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, characterized by a reduction in the per-unit cost as production increases.

Industrial Regulation

Laws and regulations that control how businesses can operate in certain industries to protect public safety, health, and the environment.