What Should Susan Do in Regards to Her Credit Card

question 44

Multiple Choice

What should Susan do in regards to her credit card balance?

• A)She should continue to make minimum monthly payments.
• B)She should pay half of the balance this month and the remaining balance next month.
• C)She should take out a small loan to pay off the credit card.
• D)She should use some of her savings to pay off the balance in full immediately.

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Definitions:

Marginal Value

Marginal value is the additional satisfaction or utility gained from consuming one more unit of a good or service.

Price Discriminate

The practice of selling the same product to different buyers at different prices based on their willingness or ability to pay.

Demand Curves

A graphical representation showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase, typically downward sloping.

Marginal Value

The extra benefit or pleasure derived from using or making an additional unit of a product or service.