The profit P (in hundreds of dollars) that a company makes depends on the amount x (in hundreds of dollars) the company spends on advertising according to the model P = 200 + 50x − 0.5x2. What expenditure for advertising yields a maximum profit?
Answers
Answer:
50 (hundred dollars)
Explanation:
To get maximum profit, we differentiate P and the result, P', we set equal to zero.
[tex]P(x)=200+50x-0.5x^{2}\\ \\P'(x)=50-x\\\\0=50-x\\\\x=50[/tex]
Every time you need to optimize a function, you differentiate and equal to zero to get the answer or answers!
In this case if we plug 50 into P we get:
[tex]P(x)=200+50x-0.5x^{2}\\\\P(50)=200+50(50)-0.5(50)^{2}\\\\P(50)=200+2500-1250\\\\P(50)=1450\\\\[/tex]
Remember that the function yields results in hundred of dollars, so the profit would be equal to 145000 dollars.
Look at the graph of the P function, at x= 50 we see the vertex of the parabola which is the highest point over the entire graph, which is also its maximum profit or value.
To find the advertising expenditure that yields maximum profit according to the model P = 200 + 50x − 0.5x^2, we differentiate the model and set it to zero. The solution to this give us an expenditure of $5,000 on advertising.
Explanation:
The question asks what expenditure for advertising yields a maximum profit according to the model P = 200 + 50x − 0.5x^2. In order to find the maximum profit, we perform differentiation on the model and set it to zero to find the critical points. Differentiating gives us dP/dx = 50 - x. Setting this equal to zero, we find that x = 50. Thus, according to the model, the company should expend $5,000 on advertising (since x is in hundreds of dollars) to maximize profit.
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Related Questions
Peter, who works at a go-kart manufacturing company, Parts for Karts Co., became aware after talking with co-workers that he was being paid substantially less than workers with the same experience and level of seniority. After noticing this, he decided to pursue a lawsuit against Parts for Karts Co. for wage discrimination. However, when Peter was hired, he had signed a binding arbitration clause in his work contract. When Parts for Karts moved to compel arbitration, a state court granted its motion. During arbitration, the arbitrator decided that Parts for Karts had not discriminated against Peter, and that Peter should pay for any lawyer fees that Parts for Karts had incurred.
But what if the facts in this case changed? For each fact change below, select whether you would agree that the fact change would affect the result of the arbitration agreement.
Check All That Apply
A. Peter requests that mediation be pursued in lieu of arbitration. But Parts for Karts desires only arbitration, and will not tolerate mediation. Peter requests that mediation be pursued in lieu of arbitration. But Parts for Karts desires only arbitration, and will not tolerate mediation.
B. The arbitrator displayed bias and exceeded her authority. The arbitrator displayed bias and exceeded her authority.
C. Peter is discontent with the decision of the arbitrator and decides to appeal to a district court. Peter is discontent with the decision of the arbitrator and decides to appeal to a district court.
D. Instead of signing a binding arbitration clause in the original work contract, Peter and his contractor commit to a Submission Agreement.
Answers
Answer:
I believe the only fact change that can affect the result is only option B. he arbitrator displayed bias and exceeded her authority.
But I will help you analyze each option one By one.
Explanation:
A .Peter requests that mediation be pursued in lieu of arbitration. But Parts for Karts desires only arbitration, and will not tolerate mediation.
This will not affect the result
Mediation is imitated if both parties involved had the intention to settle the dispute outside the court and end the case together. Mediation cannot be forced.
So if Peter is the only one that request it but Karts rejected it, there is nothing that peter can do about it.
C. Peter is discontent with the decision of the arbitrator and decides to appeal to a district court.
This will not affect the result
Peter could appeal to a district court, but his chance of winning in that court wouldn't be higher compared to the previous court unless he is able to gather new evidence that supported his case.
D. Instead of signing a binding arbitration clause in the original work contract, Peter and his contractor commit to a Submission Agreement.
This will not affect the result
Submission Agreement can only be made after the conflict occurs, it cannot be made before the conflict like a binding arbitration clause.
B. The arbitrator displayed bias and exceeded her authority.
This can affect the result
Arbitrator should act as the third neutral party between Peter and Parts for Karts Co. If peter can prove that the arbitrator displayed bias, it will be a direct violation of the Arbitration and Conciliation (Amendment) Act, 2015. This will make Peter able to win the case.
Final answer:
Changes such as biased arbitration, an appeal to district court, and modifications to the original contractual agreement regarding dispute resolution can affect the outcomes of arbitration processes. These factors highlight the importance of impartiality in arbitration and the potential flexibility in arbitration agreements.
Explanation:
Changes in the facts can significantly influence the outcomes in cases involving arbitration agreements. The impact of certain fact changes can vary; however, three scenarios where changes could potentially affect the arbitration agreement are:
The arbitrator displayed bias and exceeded her authority. In legal processes, the impartiality of the arbitrator is crucial for a fair decision. If an arbitrator shows bias, it could lead to the arbitration award being overturned on grounds of arbitrator misconduct.
Peter is discontent with the decision of the arbitrator and decides to appeal to a district court. Although arbitration decisions are generally final and binding, some jurisdictions allow for court review in situations where there has been a gross procedural error, bias, or if the arbitration award violates public policy.
Instead of signing a binding arbitration clause in the original work contract, Peter and his contractor commit to a Submission Agreement. The nature of the agreement between the parties can significantly impact the procedural rights of the parties, including the ability to negotiate different terms regarding dispute resolution processes.
These changes highlight the complexities of arbitration agreements and the potential avenues for challenging or altering the outcome of an arbitration process.
Every financial market performs the following function:
A) It determines the level of interest rates.
B) It allows common stock to be traded.
C) It allows loans to be made.
D) It channels funds from lenders-savers to borrowers-spenders.
Answers
Answer:
D) It channels funds from lenders-savers to borrowers-spenders.
Explanation:
Financial market
The marketplace where trading of securities like the equities , currencies , bonds and bonds are done .
There are small as well as large financial markets available .
The stock market is also an example of a financial market as it enables the investors to sell and buy shares of the companies .
A new advertising agency serves a wide range of clients including manufacturers, restaurants, service businesses, department stores, and other retail establishments. The accounting system the advertising agency has most likely adopted for its record keeping in accumulating costs is:
A. Relevant costing.
B. Operation costing.
C. Job-order costing.
D. Process costing.
Answers
Answer:
C. Job - order costing
Explanation:
Job - order costing -
It is used by the organization , when the goods and services of the organization are readily identifies by separate batches or units .
The agency that will advertise accumulates its cost through the client .
The method of job - order costing is the most apt system for a non - manufacturing firms .
Hence , from the data of the question , the correct answer is ( C ) Job - order costing .
Which of the following processes is responsible for releasing the energy captured during photosynthesis? Select one: a. Elimination b. Cellular Respiration c. Absorption d. Digestion e. Transpiration
Answers
Answer: The correct answer is Option b.
Explanation:
Photosynthesis reaction is defined as the process in which plants make their own food with the help of carbon dioxide and water in the presence of sunlight. The energy is captured in the form of ATP during this process.
For the given options:
Option a: EliminationElimination reactions are defined as the reactions in which a kind of atoms or groups of atoms leave the molecule. This process is not seen in photosynthesis reaction.
Option b: Cellular respirationChemical energy stored in food is the source of the energy that is required to regenerate ATP. The process in which energy is released from food by a series of enzyme-controlled reactions is called cellular respiration.
Option c: AbsorptionAbsorption is defined as the process which involves a reaction between the substance being absorbed and the absorbing medium.
Option d: DigestionDigestion is defined as the process by which complex food molecules are broken down into simple molecules that can be absorbed by the body for nutrition.
Option e: TranspirationTranspiration is defined as the process where plants absorb water through their roots and then give off water vapor through the pores from their leaves.
From the above information, the correct answer is Option b.
Asher Airlines instituted a marketing program whose intent is to create a relationship with customers with seat upgrades and free miles for their continued patronage. What customer relationship tool is Asher Airlines using __________________.
Answers
Answer:
frequency marketing program
Explanation:
Frequency Marketing is the marketing strategy that is used to lure as well as retain the customers for a longer period of time. It includes events such as advertising at the frequent intervals, offering discounts to the loyal customers, conducting and organizing various events etc. This type of strategy is carried out at the frequent intervals of the time to retain the customers.
Hence, Asher airlines is offering such discounts to retain and lure their customers and this is a type of frequency marketing program.
Assume a hypothetical case where an industry begins as perfect competition and then becomes a monopoly. As a result of this change, A. consumer surplus will be smaller, producer surplus will be greater, and there will be a reduction in economic efficiency. B. consumer surplus will be smaller and producer surplus will be greater. There will be a net increase in economic surplus. C. price will be higher, consumer surplus will be greater, and output will be greater. D. price will be higher, output will be lower, and the deadweight loss will be eliminated.
Answers
Answer:
The correct answer is A. consumer surplus will be smaller, producer surplus will be greater, and there will be a reduction in economic efficiency.
Explanation:
Monopoly is a form of market totally opposed to perfect competition. It is part of the so-called "imperfect competition", those markets that do not meet the assumptions of perfect competition.
Three situations can be distinguished:
Monopoly of offer. There is only one bidder and many plaintiffs. An example is that of companies that operate an exclusive public service. Monopoly of demand or monopsony. There is only one plaintiff and many bidders. One case is the dependence of the defense industry on state contracts. Bilateral Monopoly. When there is only one plaintiff and one sole offeror. An example is the labor market where the negotiation of a wage increase is carried out between the employer's association and the union platform.However, when we talk about monopoly in general, we refer to the offer that is what we are going to focus on.
In this type of market, the monopoly company has the power to set prices and quantities since there is no competition. The monopolist will offer a smaller quantity at a higher price than if the market were of perfect competition. In addition, having the sale insured, the company does not care about product quality or consumer satisfaction.
For tax reporting purposes, companies typically transfer more of the asset’s cost from the balance sheet to the income statement in the earlier years of the asset’s life. This is called accelerated depreciation and it is a benefit to the company. Thus, companies record deferred tax assets (benefits) for this accelerated depreciation. True/False
Answers
Answer:
False
Explanation:
Depreciation is a standard expense, which is based on consistent formula of depreciation used by organisation, it can be straight line, double declining as per the company's choice.
But the formula has to be consistent.
Also, a company charges depreciation as per US GAAP in financial statements which do not allow the company to charge high depreciation in initial years and then claim a deferred tax asset.
Therefore, the statement is:
False
According to the American Marketing Association, the term _____ is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Answers
Answer:
The answer is: Marketing
Explanation:
In 2008, the American Marketing Association changed the definition of marketing to:
"Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."
This was done basically to broaden the activities involved in the process of marketing. With this new approach the AMA gave the whole process of marketing a much broader role in the activities involved in society. Before this new definition was released, marketing was seen as an organizational function which involved only the company (organization and stakeholders) and its customers.
Free cash flow describes the net cash provided by operating activities after adjusting for A : current liabilities. B : both capital expenditure and dividends paid. C : capital expenditures only. D : dividends paid only.
Answers
Answer:
The answer is B, both capital expenditure and dividends paid.
Explanation:
In the Statement os Cash Flow, cash provided by operating activities fails to take into account that a company must invest in a new property, plant, and equipment and must maintain dividends at current levels to satisfy investors.
Free cash flow describer the net cash provided by operating activities after adjusting for capital expenditures and dividens paid.
Warren corporation purchased a truck at a cost of $60,000. It has an estimated useful life of five years and estimated residual value of $5,000. At the beginning of year three, warren's managers concluded that the total useful life would be four years, rather than five years. There was no change in the estimated residual value. What is the amount of depreciation that warren should record for year 3 under the straight-line depreciation method?
Answers
Answer:
What is the amount of depreciation that warren should record for year 3 under the straight-line depreciation method? $15500
Explanation:
Net Value Dep. year End Net value.
Year 1 55000 12000 43000
Year 2 43000 12000 31000
Year 3 31000 15500 15500
Year 4 15500 15500 0
Mona is comparing financing rates from a car dealer and her local bank. The dealer is offering zero down and zero percent financing for 36 months, whereas her bank is offering her a 3.5% annual rate on a five year loan and requires a 10 percent down payment. If Mona accepts dealer financing,
A) her payments may be higher than bank financing.
B) her payments will always be less than bank financing.
C) the dealer will make a lower profit.
D) the dealer will require a higher down payment.
Answers
Answer:
If Mona accepts dealer financing,A) her payments may be higher than bank financing.
Explanation:
Dealer
10000 3333,33
3333,33
3333,33
Bank
Due" Additional Payment Interest Principal Balance
10.000
2.214,81 350,00 1.864,81 8.135,19
2.214,81 284,73 1.930,08 6.205,11
2.214,81 217,18 1.997,63 4.207,48
2.214,81 147,26 2.067,55 2.139,93
2.214,83 74,90 2.139,93 0,00
A company is successful at recruiting engineers by handing out flyers during community events near a university which is highly rated for its engineering program. The company's competitor effectively reaches the same audience by hanging banners at a similar event. This is an example of ________.
Answers
Answer: substitutability
Explanation: The virtue of something being replaceable is called its substitutability. In simple words, it the ability of something to be put in place of other.
In the given case, the subject company and its competitor both are using the same method for recruitment and both are successful in their process. Thus, any one of them, could easily replace other in the process.
Hence from the above we can conclude that the the given case is an example of Substitutability.
Electronic funds transfers ________. a) are a way of moving cash by paper documents b) do not appear on the bank statement c) include direct deposits and debit card transactionsd) are more expensive than mailing a check to make a payment
Answers
Answer:
The correct answer is c) Include direct deposits and debit card transactions.
Explanation:
Electronic Fund Transfers (EFT) is an electronic transaction that moves money from one account to another. The accounts can be from the same institution of from different ones, and are processed through the Automated Clearing House (ACH). The ACH is a system that connects all the financial institutions in the United States.
EFTs are paper free and do not need human intermediaries to go through with a transaction. These can be done through direct deposits, wire transfers, debit cards, electronic checks, ATMs, personal computer banking and others.
Electronic funds transfers include activities such as direct deposits and debit card transactions, which are recorded on a bank statement and offer a cost-effective way of transferring funds without the use of paper documents. So, option c is correct.
Electronic funds transfers include direct deposits and debit card transactions. Unlike mailing a check, these transfers do not rely on paper documents and typically occur more quickly and at lower cost. When you use a debit card, you are instructing your bank to transfer money directly from your bank account to the seller immediately, without the need to write a check or handle cash. Additionally, these transactions are recorded on your bank statement, allowing you to keep track of your expenditures and the movement of funds in and out of your account.
It is important to note that neither debit cards nor credit cards are considered money; rather, they are tools that facilitate the transfer of money that already exists within your banking system. Moreover, specialized cards issued by institutions like colleges that allow students to make purchases can be considered part of the money supply to the extent that they represent funds that have been deposited and are available for transactions.
Salary Payable at the beginning of the month totals $ 20 comma 000. During the month, salaries of $ 120 comma 000 were accrued as expense. If ending Salary Payable is $ 14 comma 000, what amount of cash did the company pay for salaries during the month?
Answers
Answer:
Salaries paid during the month were $126,000
Explanation:
Given:
Beginning salary payable = $20,000
Salary expense accrued during the month = $120,000
Ending salary payable = $14,000
Salaries paid during the month is computed as shown below:
Salaries paid = (Beginning salary + Accrued salary expense) - ending salary payable
= (20,000 + 120,000) - 14,000
=$126,000
Therefore, salaries paid during the month were $126,000.
A friend of yours has an interview with an economics consulting firm and has been asked to discuss a microeconomics topic. Which of the following topics would you recommend that your friend discuss?A) the study of how prices are determined in the baseball card industryB) how unemployment is falling in the national economyC) what the Federal Reserve will do with interest ratesD) what the next president will do to stimulate the national economy
Answers
Answer:
The answer is: A) the study of how prices are determined in the baseball card industry
Explanation:
Microeconomics is concerned with single factors (individuals or an specific company or industry) and the effects of their decisions and allocation of resources. The baseball card industry and their pricing methods enter into this category.
While the country´s unemployment rate, or the Fed´s interest rate, or national politics affect the whole economy, so they part of Macroeconomics.
Which resource management activity identifies and verifies that personnel are qualified for a particular position? A. Qualifying B. Planning C. Certification D. Credentialing
Answers
Answer:
D . Credentialing
Explanation:
It is usually carried out at the beginning of employment (initial application) and subsequently at regular intervals (re-election). The accreditation of suppliers or other organizations can begin before the purchase process and be repeated regularly.
The process of attempting to determine all cost elements such as acquisition price, purchasing administration, follow-up, expediting, inspection and testing, rework, scrap, downtime, lost sales and customer returns is called:
a. total cost of ownership.
b. activity-based costing.
c. target pricing.
d. competitive bidding.
e. learning curve.
Answers
Answer: Total cost ownership
Explanation: Total cost ownership is a kind of financial estimate that is used by the buyers and the owners to determine the total indirect and direct cost of a commodity produced or purchased.
It includes all the expenses that are incurred to make the product ready for use to the final customer. It involves a series of activities that is performed by the producer to ready the product.
Hence from the above we can conclude that the correct option is A.
The true test of supply’s contribution is when the chief executive officer and the management team recognize that supply and suppliers are critical to organizational success and competitive advantage.True or False
Answers
Answer:
True
Explanation:
Suppliers contribution of the suppliers and supply are critical to organizational success and competitive advantage because the price of products/materials and quality of the products /materials offered by the supplier and it must be given in the right amounts and in the right time which is important in making quality and cheaper finished products in gaining customer satisfaction(organizational success) and a competitive advantage
In 2017, Orear Manufacturing signed a contract with a supplier to purchase raw materials in 2018 for $700,000. Before the December 31, 2017 balance sheet date, the market price for these materials dropped to $510,000. The journal entry to record this situation at December 31, 2017 will result in a credit that should be reporteda) as an appropriation of retained earnings.b) as a valuation account to Inventory on the balance sheet.c) on the income statement.d) as a current liability.
Answers
Answer:
d) as a current liability.
Explanation:
As in the given instance, the value of transaction is also known, further since the contract s signed the company has liability to buy the goods and accordingly the company has to incur such payment.
Since there will be an purchase for which payment will be made in future.
Therefore, this will give rise to current liability, although value of goods has decreased but still, there is a liability of payment.
Financial reports provide information that can reduce investors' uncertainty about the company's opportunities and risks, thereby raising the company's cost of capital.a)trueb)false
Answers
Answer:
False
Explanation:
The given statement is false Financial reports does not provide information that can reduce investors uncertainty about the company's opportunities and risks, thereby raising the company's cost of capital.
Financial report of a company contains balance sheet, income statement and discussion of the management. It also indicate company's financial health and earning potential. But it cannot reduce the risk of investors uncertainty.
What does the statement "This note is legal tender for all debts, public and private" guarantee?
a) US currency is backed by gold.
b) US currency is backed by silver.
c) US currency is a way of obtaining legal credit.
d) US currency has value backed by the federal government.
Answers
Answer:
US currency has value backed by the federal government.
Explanation:
D. US currency has value backed by the federal government.
Jose deposits a $400 check in College Bank. The reserve requirement is 20%. Required reserves are $_____. Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices 80 320 400 480
Answers
Answer:
80
Explanation:
As for the required reserve balance the information is provided as follows:
Total amount deposited by Jose = $400
Provided the reserve balance = 20%
Therefore, reserve balance from this payment = $400 [tex]\times[/tex] 20% = $80.
As it is not specified clearly, that this $400 is inclusive or exclusive of the reserve balance, it is assumed that reserve will be created out of such balance.
Therefore, reserve maintained from this $400 = $80 and the rest $400 - $80 = $320 will be usable freely, without any restrictions.
Juana looked at her September issue of O magazine and did not see anything of interest. However, after her mother was diagnosed with bipolar disorder, Juana found the issue extremely interesting because it offered advice on how to help people who are suffering from this problem. The fact that the boring issue became quite interesting is most directly due to a change in Juana's ________.
A) exposure
B) cultural values
C) attention
D) personality
Answers
Answer: attention
Explanation: The given case illustrates the concept of selective attention.
Selective attention refers to the situation when an individual focuses on a particular aspect of a vast subject matter due to his or her specific need or preferences.
In the given case, Juana found the magazine interesting because of the topic regarding a disease was covered in the magazine from which her mother was suffering.
Therefore, we can conclude that the correct option is C.
Henry, the vice president of Walnut Corp., has observed that the sales team and the marketing team are often fighting over shared resources after the company encountered a financial crisis. This scenario illustrates the concept of _____.A) team cohesivenessB) team synergyC) team autonomyD) team conflict
Answers
Answer:
The correct answer is A) team confict
Explanation:
You can talk about team conflict when there is a problem in the team that affects results or they are not able to work in an optimun way.
Team cohesivness is when the members work together and united in the pursuit of a common goal.
Team sinergy is when the result of working together is better than the result of the work of all the members added when they work separated
Team autonomy is when a team can work without the incluence of an otside party
The unemployment rate may underestimate the true extent of unemployment if:
a. many part-time employees would like to work fulltime, but are unable to get the additional work.
b. employees increase the number of hours they work overtime.
c. there are a large number of people working in the underground economy.
d. people are pretending to look for work so that they can continue receiving unemployment benefits.
Answers
Answer: c.
Explanation: The unemployment rate may underestimate the true extent of unemployment if there are a large number of people working in the underground economy . While the underground economy also known as the black economy may conjure up images of drug deals and prostitution rings, the term actually has much broader scope. It refers not only to illegal economic activity, but all economic activity that goes unreported to government authorities and consequently, avoids being taxed. one of the primary reasons the underground economy exists is that people are trying to evade taxes. But increased government regulations that can make the cost of doing business higher also create an incentive to avoid reporting certain economic activity to the government. An increase in the number of unemployed increases the number of people who work in the black economy because they have more time. On the other hand, an increase in unemployment implies a decrease in the shadow economy.
You manage a software development group with team members in North America, South America, and Asia. Your boss wants you to write a status report about your group's activities. You need key team members to contribute to the report, but doing so is challenging when team members are in so many different time zones. Which writing tool is likely to benefit you most on this project?
Answers
Answer:
Google Docs.
Explanation:
I think is the best option due to the time zone differences. Everybody can contribute writing something and save it, so other people can correct or continue typing online.
Answer:B
Explanation:
just got it right
Which of the following is the process of assessing the firm's internal and external environments?
A. Business portfolio analysis
B. Market growth rate analysis
C. Situation analysis
D. Sustainability analysis
E. Product development analysis
Answers
Answer:
C.
Explanation:
A situation analysis defines where you are today, in terms of your product, market, customer and competition.
The systematic collection and study of past and present data to identify trends, forces, and conditions with the potential to influence the performance of the business and the choice of appropriate strategies. The situation analysis is the foundation of the strategic planning process. The situation analysis includes an examination of both the internal factors (to identify strenghts and weaknesses) and external factors (to identify opportunities and threats). It is often referred to by the acronym SWOT.
Licensing is perhaps the easiest method of entering into international trade. another method of entering international trade which can be relatively low risk, is _____________, which opens several levels of involvement to company.
Answers
Answer:
Another method of entering international trade which can be relatively low risk, is exporting.
Explanation:
After licensing, exporting is one of the smoothest ways to capture international markets. It involves sending goods and services from one country to another. It is considered to be relatively low-risk and it has multiple benefits attached to it. It enables business owners to discover new growth opportunities in an international market. It also helps in widening the target audience. Moreover, businesses with seasonal demand can balance out their sales by capturing different markets.
Jorge Martinez is a well-educated entrepreneur who operated a small business in his home country of Florentina. At the encouragement of his American relatives, Jorge recently immigrated to the United States and applied for U.S. citizenship. "In Florentina, tax rates were very high," Jorge complained. "The government used the taxes I paid to finance all sorts of social programs to help the less fortunate. While this is a noble goal, it has really undermined the profit incentive of individuals such as me. I really feel that these high taxes have stifled economic growth." Jorge's comments illustrate the reason many socialist countries are experiencing a(n):
Answers
Answer:
brain drain
Explanation:
According to my research on economy and politics in certain countries, I can say that based on the information provided within the question these comments illustrate the reason many socialist countries are experiencing a brain drain. When speaking in terms of population and immigration, this term refers to the emigration of highly trained or qualified people from a particular country to another.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
Collector Carl displays his beer can collection at the local swap meet. Mary sees the collection and is interested in buying it. Carl says he will sell the collection for $1,500. Mary says she really likes the collection but is only willing to pay $1,000. Which of the following is correct?a. Mary's offer is an option contract and she cannot revoke the offer.b. Mary's counteroffer terminates Carl's offer of $1,500.c. Neither offer is valid. Who would ever pay $1,000 or $1,500 for a beer can collection?d. If Carl rejects Mary's counteroffer, she can still accept Carl's offer of $1,500.
Answers
Answer:
Which of the following is correct?
b.
Explanation:
b. Mary's counteroffer terminates Carl's offer of $1,500