Fabien offers to sell his Graphic Signs LLC business to Hanna for $100,000. Hanna replies, “The price is too high. I will pay $75,000.” Hanna has
a. made a counteroffer without rejecting the offer
b.rejected the offer without making a counteroffer,
c. accepted the offer.
d. rejected the offer and made a counteroffer.
Answer: a. made a counteroffer without rejecting the offer
Explanation: She has just made a qualified acceptance in which she accepts to purchase the business for an amount different from the earlier offered amount. If rejected , she would have refused to purchased. Hence option A will only be correct
You might also like to view...
A private good:
A. is a good for which consumption involves perfect rivalry. B. is nonexcludable. C. is often provided by the government. D. is a good for which consumption involves perfect rivalry and is nonexcludable.
Which of the following statements is NOT true for a perfectly competitive firm?
A) A firm's demand curve is horizontal. B) The firm can influence its demand curve by advertising its product. C) The firm's demand curve is perfectly elastic. D) The market demand and supply curves determine the market price.
In general, more efficient taxes have:
A. lower administrative burdens. B. more complexity. C. lower revenues given the size of the tax. D. All of these statements are true.
The primary goal of economics is to help people make money
a. True b. False Indicate whether the statement is true or false