TransUnion Is Aware That You Are One Month Late on Your

question 70

Multiple Choice

TransUnion is aware that you are one month late on your car payment, while Equifax has not yet uncovered this information. Which of the following statements is correct?

• A)TransUnion will have a lower credit score for you than Equifax.
• B)Both companies will have the same credit score because of the grace period.
• C)Being late one month on a car payment will not affect your BEACON score.
• D)Only credit card delinquency is considered because it is riskier than revolving high-interest credit.

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Definitions:

Economic Profits

The variance between gross income and total costs, considering both explicit and implicit expenses.

Long-Run Market Adjustments

Changes that firms or entire industries undergo over an extended period in response to shifts in demand, technology, and competitive landscapes.

Representative Firm

A theoretical concept or model used to represent the average or typical firm within an industry, often for analytical purposes.

Decrease in Demand

A downward shift in the demand curve, indicating that consumers now want to purchase less of a good at all price levels.