On Any Given Day,a Firm Receives Numerous Checks Worth an Average

question 75

Multiple Choice

On any given day,a firm receives numerous checks worth an average combined total of $5,900.The funds from the deposited checks are generally available after two days.Every day,the firm mails out checks totaling $4,400 that generally take three days to clear the bank.What is the amount of the collection float?

• A)$4,400
• B)$5,900
• C)$11,800
• D)$13,250
• E)$13,400

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Definitions:

Equilibrium

The point in a market where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price.

Surpluses

The quantity of goods that remains when a producer has more goods than it is able to sell at the current price.

Shortages

Occurrences when the demand for a product or service exceeds its supply in a market, often leading to higher prices and unmet consumer needs.

Equilibrium Price

The market price at which the quantity of a good supplied equals the quantity demanded, leading to a stable market situation.