In the Absence of Agreement,payment Is Due at the Time

question 7

True/False

In the absence of agreement,payment is due at the time and place the buyer is to receive the goods,even though the place of shipment is the place of delivery.

---

Definitions:

Marginal Revenue

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

Demand Curve

A graphical representation demonstrating the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Short Run

A period in economic analysis where some factors of production are fixed and cannot be changed.

Market Demand

The aggregate amount of a product or service that every consumer in a market is prepared and capable of buying at different price levels.