Which of the Following Reads the Magnetic Stripe on the Back

question 18

Multiple Choice

Which of the following reads the magnetic stripe on the back of credit cards, entertainment cards, bank cards, and other similar cards?

• A)MICR reader
• B)magstripe reader
• C)OCR reader
• D)OMR reader

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Definitions:

MR Curve

The marginal revenue curve, which shows how the revenue from selling one more unit of a good or service changes as the quantity sold changes.

Economic Losses

Occurs when a company's total costs exceed its total revenues, indicating that the business is not efficiently allocating its resources.

Economic Profits

Profits exceeding the opportunity costs of a company's resources, indicating it is generating returns beyond the next best alternative.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, in economic theory, representing the surplus generated by an entity in economic activities.