If You Think That Your Bill Is Wrong, You Should

question 106

Multiple Choice

If you think that your bill is wrong, you should first:

• A) contact the local credit bureau and inform it of the billing error.
• B) complain to the Better Business Bureau.
• C) contact your state consumer protection agency.
• D) notify the creditor in writing within 60 days after the bill was mailed.
• E) contact your attorney to settle the matter.

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Definitions:

AFC

In economic terms, typically stands for Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced.

ATC

Average total cost, which is the total cost of production divided by the quantity of output produced, encompassing both fixed and variable costs.

Economies Of Scale

Companies achieve cost benefits when their production processes become more efficient, leading to a decrease in the per-unit cost as the scale of production grows.

Pin Factory

An example used by Adam Smith to illustrate how division of labor increases productivity.