Choose the Word or Phrase in [ ] Which Will

question 108

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-The first step to take in establishing a credit history is to [get a credit card | open checking and savings accounts].

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Definitions:

Scale Reduction

The process of downsizing the scope or size of operations, often in response to operational inefficiencies or declining profits.

Long-Run Average Total Cost

The average cost per unit of output incurred when all factors of production, including capital, are variable, considered over a sufficient period for all adjustments to be made.

Decreasing Returns to Scale

Decreasing returns to scale occur when increasing the inputs used in production results in a less than proportional increase in output.

Total Cost

The aggregate of expenses involved in creating goods or delivering services, covering both stable and changeable costs.