There Are Some Deadlines for Giving Notice: on an Instrument

question 36

Multiple Choice

There are some deadlines for giving notice: on an instrument taken for collection:

• A) a nonbank must give notice before midnight on the next banking day following the day on which it receives notice of dishonor.
• B) a bank must give notice within thirty days after the day it received notice.
• C) in all situations, the deadline is ninety days after the day dishonor occurred.
• D) a specific form of notice is required to be given in written communication.
• E) may be given by any commercially reasonable means including a written, or electronic communication, but excluding all oral communication.

Explain the differences between price and output decisions in monopolistic and competitive markets using graphical analysis.

Determine the conditions required for effective price discrimination and its impact on economic welfare and firm profits.

Analyze the effect of monopoly power on innovation, efficiency, and consumer choice.

Understand the relevance of marginal costs and the concept of economies of scale and simultaneous consumption for monopoly pricing.