The History of a Person's Use of Credit Is Contained

question 5

Multiple Choice

The history of a person's use of credit is contained in a

• A) line of credit.
• B) bankruptcy petition.
• C) credit record.
• D) charge account.

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Definitions:

Output

The total amount of goods or services produced by a person, machine, factory, country, etc., within a given period.

ATC

Average Total Cost, the sum of all production costs divided by the quantity of output produced, reflecting the average cost per unit of output.

AVC

Average Variable Cost is the total variable cost per unit of output, which is calculated by dividing total variable costs by the quantity of output.

MC

Marginal Cost, the increase or decrease in the total cost of a production run for making one additional unit of an item.