The UCC Generally Requires That a Contract Specify in Writing

question 231

True/False

The UCC generally requires that a contract specify in writing a quantity to be purchased.

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Definitions:

Vertical Axis

The “up-down” or “north-south” measurement line on a graph or grid.

Marginal Revenue

The financial gain from disposing of one extra unit of a product or service.

Average Revenue

The amount of income generated per unit of sale or the total income divided by the number of units sold.

Purely Competitive Seller

A seller in a market that has many buyers and sellers, with all firms selling identical products and no barriers to entry.