Which of the Following Is a Correct Statement Regarding the Validity

question 56

Multiple Choice

Which of the following is a correct statement regarding the validity of various means of acceptance (assuming no means of communicating the acceptance is specified?)

• A)Telephone,mail,and e-mail are all valid means of acceptance,while telegraph and fax are not valid means of acceptance.
• B)Telegraph and fax are valid means of acceptance,while telephone,mail,and e-mail are not valid means of acceptance.
• C)Telephone,mail,e-mail,and fax are all valid means of acceptance,while telegraph is not a valid means of acceptance since it is an outdated form of communication.
• D)Telephone,telegraph,mail,fax,and e-mail are all valid means of accepting an offer.
• E)Telephone,telegraph,mail,fax,and e-mail are all invalid means of accepting an offer,since an offer must be accepted either in person or by way of a formal letter of acceptance.

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Definitions:

Supply Curve

An illustration that demonstrates the correlation between a good or service's price and the amount made available in a specific period.

Demand Curve

A graph representing the relationship between the quantity of a good consumers are willing and able to purchase and the price of the good.

Supply

The total amount of a specific good or service that is available to consumers at a given price level in a given time period.

Demand

The measure of products or services that consumers are eager and equipped to purchase at varying prices during an established interval.