Acceptance of an Offer Must Be Unequivocal or ____

question 348

Multiple Choice

Acceptance of an offer must be unequivocal or ____.

• A) final
• B) written
• C) unwritten
• D) definite
• E) equivocal

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Definitions:

Utility Function

A mathematical representation of how different combinations of goods or services produce varying levels of satisfaction or utility to a consumer.

Commodities

Fundamental commodities traded in business that can be exchanged with others of alike kind.

Units Of Good

Measurement quantities used to quantify the amount, number, or level of goods.

Utility Function

A mathematical representation that assigns a value to every possible bundle of goods or services, with the value indicating the level of satisfaction or happiness that the consumer derives from that bundle.