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When an offer of sale does not specify a price, it is assumed that the parties intended:
Cost Conditions
The specific factors affecting the cost of production or service delivery, including material costs, labor expenses, and overheads.
Output
The total amount of goods or services produced by a company, industry, or economy.
Increasing Cost Industry
An industry in which production costs rise as output increases, often due to factors like limited resources or higher prices for inputs.
Constant Cost Industry
An industry in which the costs of production do not change as the industry's output changes, maintaining the same unit cost for production regardless of scale.
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