If No Time Is Stated for the Duration of an Offer

question 39

True/False

If no time is stated for the duration of an offer, it continues indefinitely if the offer relates to durable goods or land.

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Definitions:

Noncash Gifts

Items of value given as presents that are not in the form of currency or monetary instruments.

Consumer Preferences

The tastes, preferences, and priorities that influence the buying decisions of individuals or households.

Marginal-Utility Schedules

Tables or charts that illustrate the additional satisfaction or utility a consumer receives from consuming an additional unit of a good or service.

Utility Maximization

The economic principle stating individuals aim to achieve the highest satisfaction possible from consumption given their income and prices of goods.