Under the CISG, Advertisements

question 177

Multiple Choice

Under the CISG, advertisements:

• A) are not offers that can be accepted to form a contract
• B) are offers that can be accepted to form a contract
• C) are illegal
• D) are binding
• E) take the place of negotiations

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Definitions:

Monopolies

Market structures characterized by a single seller who has exclusive control over the supply of a good or service, often leading to higher prices and reduced competition.

Antitrust Policy

Regulations and laws designed to promote competition and prevent monopolies by restricting business practices that could limit market accessibility.

Monopoly Power

The ability of a firm to set or influence prices within a market because it is the sole supplier of a product or service.

Tacit Collusion

An unspoken, implicit agreement among competitors to avoid certain competitive behaviors, like price undercutting, to maintain market stability or prices.