The Following Question Are Based on the Following Table Showing

question 25

Multiple Choice

The following question are based on the following table showing the supply curves of the five individual firms constituting the rutabaga market in a small community. Assume that simultaneous changes in output by all firms do NOT affect input prices.

-If the price is $1.00 per unit,the quantity supplied will be

• A) 4.
• B) 5.
• C) 6.
• D) 7.
• E) 8.

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Definitions:

Valid Offer

A proposal made by one party to another with specific terms, intending to form a legally binding agreement if accepted.

Lucy V. Zehmer

A landmark legal case focusing on the binding nature of a contract, stemming from the sale of a farm over a drunken conversation.

Assent

Assent is the agreement or approval by a party to the terms of a contract or an arrangement, often indicated through a signature or explicit agreement.

Allegations

Claims or assertions made against someone, often without proof, typically in legal contexts.