Kim Sends an Offer to Leo to Cut Down and Remove

question 74

Multiple Choice

Kim sends an offer to Leo to cut down and remove a tree for $400. Kim says, "If you say nothing, I will consider you to have accepted my offer." If Leo does not respond, he will be deemed to

• A) accept the offer.
• B) make a counteroffer.
• C) reject the offer.
• D) none of the choices.

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Definitions:

Resulting Price

A price that emerges from the interaction of supply and demand factors within a specific market environment.

Decrease Retailer Prices

A strategy where retailers reduce the price of goods to attract more customers or match competitors.

Vertical Contracts

Agreements between companies at different levels in the supply chain (e.g., manufacturer and retailer), often concerning the conditions of purchase or sale of goods or services.

Consumers

Individuals or entities that purchase goods or services for personal use or consumption rather than for resale or production.