How does an electronic agent react to a counteroffer? Explain with an illustration
What will be an ideal response?
Most Web pages use electronic ordering systems that do not have the ability to evaluate and accept counteroffers or to make counteroffers. Most state laws recognize this limitation and provide that an e-contract is formed if an individual takes action that causes the electronic agent to cause performance or promise benefits to the individual. Thus, counteroffers are not effective against electronic agents.
Example: Fred orders an mp3 player from an online shopping site. He selects the model and pays via online banking. After ordering on the website, Fred sends an e-mail to the manufacturer stating, "I will accept the product I ordered if, after two weeks of use, I am satisfied with the product." However, because Fred has placed the order with an electronic agent, he has ordered the product, and his counteroffer is ineffectual.
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Which of the following is a necessity for common EOQ methodology but not simulations?
A) constant lead time B) variable demand C) variable holding costs D) A and B E) A, B and C
An item experiences an annual demand of 7,200 units. It costs $8 to hold an item in inventory for one year and $16 to place an order. If the EOQ model is used, what is the time between orders? Assume that there are 52 business weeks in a year
A) less than 1 week B) greater than 1 week but less than or equal to 2 weeks C) greater than 2 weeks but less than or equal to 3 weeks D) greater than 3 weeks