A & D,IncWrote a Negotiable Note Payable to Vicy,Inc

question 19

True/False

A & D,Inc.wrote a negotiable note payable to Vicy,Inc.for the purchase of some satellite receivers.A & D left the amount of the note blank because it was uncertain as to amount of the applicable tax.Vicy completed the note for $3,000 more than A & D actually owed for the receivers it purchased.The note was negotiated to a holder in due course.A & D will not have to honor the note as this constituted fraud in the execution.

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Definitions:

MC

Marginal Cost, the increase in total cost that arises from producing one additional unit of a product or service.

Natural Monopoly

A type of monopoly that arises due to high fixed or start-up costs associated with a business which makes it impractical for more than one firm to produce the same product or service efficiently.

Fixed Costs

Costs that do not vary with the level of production or business activity, such as rent, salaries, and insurance, remaining constant regardless of output.

Competitors

Competitors are businesses or individuals that vie for the same customers or market share in the same industry.