Question

A job estimated to cost $1 million. However, two companies have a bid of $500,000. They can legally do this job if they___?

a) Increase their bid
b) Reject the job
c) Share the job
d) Seek legal advice

Answer 1

The companies can legally do the job if they increase their bid.

Step-by-step explanation:

When two companies submit a bid for a job, they are competing with each other to win the contract. In this case, both companies have bid $500,000, which is lower than the estimated cost of $1 million. If they want to legally do the job, they need to increase their bid to match or exceed the estimated cost.

By increasing their bid, the companies demonstrate their ability to cover the costs associated with the job and fulfill their obligations. This ensures that the project is properly funded and executed.