Locke Signs a Check Payable to the Order of Metro

question 30

Multiple Choice

Locke signs a check payable to the order of Metro Bank,filling in the blanks for the amount with the figures "$100" and "One thousand and 00/100 dol?lars." This check is payable in the amount of

• A)$0.
• B)$100.
• C)$1,000.
• D)$1,100.

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Definitions:

Profit

The financial gain realized when the revenue from business activities exceeds expenses, costs, and taxes.

Revenue

The sum of earnings from selling goods or providing services which are fundamental to a company's core business activities.

Profit-Maximizes

The procedure an enterprise employs to find the optimal price and output level for maximum profit.

Long Run Adjustment

The process through which firms adjust their levels of production, capital, and other inputs to reach a new equilibrium in response to changes in market conditions over time.