Jackie offers to sell Mel a concert ticket for $50, and Mel replies, "I'll give you $40." Jackie refuses to sell at the lower price, and Mel says, "OK, OK, I'll pay you $50." Has a contract been formed? At what price?
a. Yes. Mel must pay $45, the average of the two prices. b. No. Mel made a counteroffer, which Jackie rejected. c. Yes. Mel must pay $40.d. Yes. Mel must pay $50

Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.

If airlines do not change their prices how else might they try to compete with each other?

In the supply-and-demand schedule shown above, the equilibrium price for cell phones is $25 $100 $200