If the Parties to a Contract Attach Materially Different Meanings

question 41

True/False

If the parties to a contract attach materially different meanings to a con?tract term,the contract cannot be rescinded.

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Definitions:

Marginal Cost

The increase in cost that results from producing one additional unit of a good or service.

Fixed Cost

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance, providing a base cost for operating a business.

Total Cost

The sum of all funds utilized in the production of goods or services, including both fixed and variable costs.

Marginal Cost

The rise in overall manufacturing expenses resulting from the creation of an extra unit.