Tomas Writes a Check for $1,000 Drawn on Unified Bank

question 42

Multiple Choice

Tomas writes a check for $1,000 drawn on Unified Bank and presents it to Viola. Viola presents the check for payment to Unified Bank, which dishonors it. The party most likely liable to Viola is​

• A) ​Tomas in a civil suit.
• B) ​Tomas in a criminal prosecution.
• C) ​Unity Bank in a civil suit.
• D) ​none of the choices.

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Definitions:

Cross-Price Elasticity

A measure indicating how the demand for one good responds to a change in the price of another good, showing whether they are substitutes or complements.

Complementary Goods

Goods that are often used together so that the consumption of one increases the demand for the other.

Cross-Price Elasticity

A gauge of the demand shift for one item in response to price adjustments of another item.

Cross-Price Elasticity

A measure of how the quantity demanded of one good responds to a change in the price of another good, indicating the degree of substitutability or complementarity between them.