Choose the Word or Phrase in [ ] Which Will

question 48

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Longer term auto loans have a [lower rate but higher payment | higher rate but lower payment].

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Definitions:

Pricing Errors

Instances where the listed price of a good or service differs from the intended or market appropriate price due to typographical, calculation, or understanding errors.

Excess Capacity

A situation where a company can produce more than is required to meet the demand, often leading to inefficiencies and increased costs.

Bidding Strategy

An approach used by businesses or individuals when competing for contracts or projects, involving how they price their bids to win the work while aiming to maximize profits.

Incremental Costs

The additional costs incurred when a business increases its level of output or activity by one unit.