Errors on Credit Reports Can Occur

question 68

Multiple Choice

Errors on credit reports can occur.If there is an error on your report,

• A)it is your responsibility to review it once a year for accuracy and inform of any errors.
• B)it can result in the credit agency being charged under the Fair Credit Reporting Act.
• C)the creditor reporting to the agency must correct it at your request.
• D)you must inform the Better Business Bureau to take your case to the authorities.

---

Definitions:

Average Total Cost

The total cost divided by the quantity of output produced, representing the average cost per unit of output.

Short-Run Supply Curve

A graphical representation showing the quantity of a good or service that producers are willing and able to sell at different prices over a short period, holding other factors constant.

Marginal Cost Curve

A graphical representation that shows how the cost of producing one more unit of a good changes as the production volume changes.

Average Variable Cost

The total variable costs of production divided by the quantity of output produced, representing the variable cost per unit of output.