Quincy Draws a Check Payable to "Replay Stadium" to Buy

question 36

Multiple Choice

Quincy draws a check payable to "Replay Stadium" to buy two season tickets to the next year's State College football games.This instrument is

• A)a bearer instrument.
• B)an order instrument.
• C)valid but nonnegotiable.
• D)void.

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Definitions:

Firm

An organization that utilizes resources to produce goods or services for profit.

Technological Innovation

The development and application of new ideas, devices, or methods in technology which significantly improve goods, services, or processes.

Cost Curves

Graphical representations of how the cost of production varies with changes in the quantity of output produced, including average and marginal costs.

Average Fixed Cost

Fixed cost divided by the level of output.