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Why Might a Person's First Credit Card Have a High

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Why might a person's first credit card have a high APR?


Definitions:

Average Total Cost

The total cost of production divided by the number of units produced, reflecting the cost per unit.

Search Cost

The time, effort, and financial expense incurred by consumers or firms in looking for information or resources, goods, and services.

Advertising

The activity or profession of producing advertisements for commercial products or services.

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