A Contract Must Be in Writing to Be Enforceable If

question 1

True/False

A contract must be in writing to be enforceable if it makes performance possible only over a period of more than one year.​

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Definitions:

Gasoline Prices

The cost per unit of gasoline, influenced by factors like crude oil prices, taxes, and demand.

Shift

In economics, a movement or change in the position of a supply or demand curve in response to external factors.

MC, AVC, ATC Curves

Graphical representations in economics of the marginal cost, average variable cost, and average total cost, respectively, which firms use for production and pricing decisions.

Economies of Scale

Cost advantages that businesses obtain due to the scale of operation, with cost per unit of output generally decreasing with increasing scale.