Great State Bank Took a Security Interest in Gresham,Inc

question 12

Multiple Choice

Great State Bank took a security interest in Gresham,Inc.'s meat processing equipment.Gresham defaulted on the loan.Which statement is correct?

• A) Great State Bank may take possession of the collateral.
• B) Great State Bank may ignore its rights in the collateral and sue Gresham for the money owed.
• C) Both a and b are courses of action that Great State Bank may follow.
• D) Neither a nor b are courses of action that Great State Bank may follow.

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Definitions:

Marginal Social Cost

The total cost to society of producing an additional unit of a product, including both the private cost and any external costs.

Pollution Emission

The release of pollutants into the environment, typically from industrial processes or vehicles.

Pollution Reduction

The process of decreasing the amount of pollutants that are released into the environment.

Total Cost

The complete cost of production, including both fixed and variable costs, incurred by a business in the production of goods or services.