Whitewater Canyon Adventures,Inc

question 45

Multiple Choice

Whitewater Canyon Adventures,Inc.,and Xtra Overstock Company enter into an oral contract for Xtra's sale to Whitewater of five rafts for $2,000 each. Before Whitewater takes possession of the rafts,this contract is enforceable by

• A)Whitewater or Xtra.
• B)the maker of the rafts.
• C)anypotentially interested third party,such as a Whitewater tour guide.
• D)none of the choices.

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Definitions:

Natural Monopoly

A market condition where a single firm can provide goods or services to an entire market at a lower cost than if there were multiple firms in the industry.

Antitrust Suits

Legal cases intended to prevent or penalize monopolies and ensure competition in the marketplace.

Average Cost

The total cost of production divided by the number of units produced.

Monopolist

A monopolist refers to a single supplier in a market who has significant control over the market price of a product or service due to the lack of competition.