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The table below shows the payoff (profit) matrix of Firm A and Firm B indicating the profit outcome that corresponds to each firm's pricing strategy (where $500 and $200 are the pricing strategies of two firms) .Table 12.2
-The social cost of a transaction is _____.
NSF Check
A check that has not been honored by the bank due to insufficient funds in the account to cover the amount.
Outstanding Checks
Checks that have been written and recorded in a company’s ledger but have not yet been cleared or deducted from the bank account balance.
Credit Memo
A document issued by a seller to a buyer, reducing the amount owed by the buyer under certain circumstances, such as returned goods or an overcharge.
Debit Memo
A document issued by a seller of goods or services to a buyer, reducing the amount the buyer owes under the original invoice.
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