Robert Mullins Is Applying for a Mortgage to Purchase His

question 233

Multiple Choice

Robert Mullins is applying for a mortgage to purchase his first home.His credit rating is mediocre due to several late payments on his credit cards and car loan.He is upset because his friend Mark was offered an interest rate 3 percent less than what Robert was offered by the same mortgage company.This mortgage company's actions were

• A) unethical-both Robert and Mark should have been charged the same interest rates,regardless of their credit histories.
• B) ethical-this is just a part of doing business because credit history is an important indicator of future payments.
• C) illegal-subjective factors may not be used when determining which credit offers may be extended to certain customers.
• D) unethical if Robert is a minority and Mark is not.
• E) unethical and illegal-customers must all be treated the same.

Recognize the characteristics and implications of being in a perfectly competitive market.

Grasp the concept of maximizing profits through marginal analysis in competitive markets.

Identify the effects of market prices on firms' production decisions in competitive markets.

Understand the impact of fixed and variable costs on a firm's operational decisions in competitive markets.

---

Definitions:

Stable Joints

Joints that have limited movement but provide significant support and stability to the skeletal framework.

Upper Limb

The upper limb refers to the part of the human body extending from the shoulder to the hand, including the arm, elbow, forearm, wrist, and fingers.

Sacroiliac Joint

The joint between the sacrum, at the base of the spine, and the iliac bones of the pelvis, which helps support and stabilize the body's weight.

Ilium

The broad, upper part of the pelvic bone, important for its role in weight bearing and muscle attachment.