An Offeree's Inquiry About the Terms of an Offer That

question 1

Multiple Choice

An offeree's inquiry about the terms of an offer that differ from the offeror's terms will have what effect?

• A)The offer will be rejected.
• B)The offer will be revoked.
• C)The inquiry will not reject the offer, and if the offeror says no, the original offer may still be accepted if it has not been revoked.
• D)The inquiry will be considered a counteroffer.

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Definitions:

Long Run

A period in which all inputs, including capital, are variable, allowing firms to adjust all factors of production.

Economic Costs

The comprehensive expense incurred from selecting one option over another, covering both direct and indirect costs.

Own Capital

The personal resources that an investor or business owner invests into a business venture.

Economic Costs

Total expenses incurred in the production of goods and services, including both explicit and implicit costs.