You Should Cancel Any Credit Card That Is Not Sponsored

question 90

True/False

You should cancel any credit card that is not sponsored by a company that sells necessities.

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Definitions:

Monopolist

An individual or entity that is the sole provider of a particular good or service, thereby controlling the market.

Regulated

Regulated refers to industries or activities that are controlled or supervised by government laws and standards to ensure fairness, safety, and efficiency.

Minimum Feasible Price

The lowest price at which a product or service can be sold, covering all necessary costs of production without incurring a loss.

Deadweight Loss

The loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.