True or false with justification, use graphical argument as appropriate. (It is not sufficient to state whether the statement is true or false, or even to correct it if it is false, in all cases you must jusaify your answer.)
A firm with a production function given by $Y=\operatorname{man}[3 x, y]$, where $x$ and $y$ are two factors of production, faces factor prices of $x=2$ and of $y=3$, ls average cost of production is oqual to $11 / 3$
2. A competitive profit has a profit maximizing plan only if its technology exhibits decreasing returns to scale.
The production function $f(x, y)-x^{23}+y^{33}$ bas increasing returns to scale.
Answers
The first statement is false. The firm's average cost of production cannot be determined solely based on the given production function and factor prices.
The second statement is true. A competitive profit-maximizing firm typically exhibits decreasing returns to scale in its technology.
The third statement is false. The given production function exhibits decreasing returns to scale, not increasing returns to scale.
The average cost of production cannot be determined solely based on the given production function and factor prices. The production function $Y = \min[3x, y]$ does not provide information about the relationship between inputs and costs. To determine average cost, additional information about the cost function or cost structure is required.
The second statement is true. In a competitive market, firms aim to maximize their profits. For a profit-maximizing firm, decreasing returns to scale in technology are typically desirable. This means that as the firm increases the scale of production by equally proportionate increments of all inputs, the increase in output is relatively smaller. This allows the firm to operate at a more efficient scale, achieving lower average costs and maximizing profits.
The third statement is false. The given production function $f(x, y) = x^{23} + y^{33}$ exhibits decreasing returns to scale. If the production function had increasing returns to scale, it would imply that as the firm increases the scale of production, the increase in output would be greater than the increase in inputs. However, the given production function shows that as both inputs increase, the increase in output diminishes, indicating decreasing returns to scale.
In conclusion, the first statement is false because the average cost cannot be determined with the given information. The second statement is true as competitive profit-maximizing firms generally exhibit decreasing returns to scale. Lastly, the third statement is false as the given production function exhibits decreasing returns to scale, not increasing returns to scale.
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Related Questions
If your company increases its market penetration, what is happening?
A The target market is growing.
В. More people in the target market are buying the company's product.
C. The market saturation of the target market has decreased.
D. Competitors who offer similar products are entering the market.
Answers
Answer: More people in the target market are buying the company's product.
Explanation:
Answer:
B.
More people in the target market are buying the company's product.
Explanation:
ASAP I need help.
Create a list of five action verbs you might use on a job application to describe skills and/or work history. Here are some examples: (organized, produced, selected, coordinated, contributed). Find five other than the examples.
Answers
which marketing management philosophy focuses on satisfying customer needs and wants while enhancing well-being?
Answers
The marketing management philosophy that focuses on satisfying customer needs and wants while enhancing well-being is known as the societal marketing concept.
The societal marketing concept is a marketing management philosophy that recognizes the importance of meeting customer needs and wants while also considering the well-being of society as a whole. This philosophy emphasizes the long-term benefits of responsible marketing practices, taking into account social, environmental, and ethical considerations.
It goes beyond simply satisfying customer demands and aims to create products and services that contribute to the overall well-being of customers and society.
By considering the broader impact of marketing activities, organizations adopting the societal marketing concept strive to build sustainable relationships with customers while positively impacting society and the environment.
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who ever can give me five stars and like me i will do the same back
Answers
Answer:
I will give you 5 stars like me i will do the same back
After learning about social media ethics, what 5 things would you tell other high school students positive or negative about social media and how it will potentially affect their high school experience and their potential career?
Answers
Jake Olsen has decided to put $1,000 in the bank. List several questions Jake might want to ask before ch whether to put the money in a checking or a savings account.
Answers
Answer:
look at my comment
Explanation:
you should not buy a car from nissan or bmw! you are putting people here out of a job."" anti-dumping laws prevent unfair competition. national security requires that strategically important goods be produced domestically. protection can help infant industries develop. foreign competition may lead to job losses. trade should not enable foreign firms to skirt u.s. regulations.
Answers
When considering whether to buy a car from Nissan or BMW, it is important to consider various factors. While it is true that purchasing cars from foreign companies may lead to job losses in the domestic automobile industry, it is essential to note that trade and competition also have their benefits.
Anti-dumping laws are in place to prevent unfair competition and ensure that prices are not artificially lowered by foreign companies. This protects domestic industries from being undercut and helps maintain a level playing field.
National security considerations come into play when strategically important goods need to be produced domestically. This ensures that the country is not overly dependent on foreign sources for critical products.
Protectionism can also help infant industries develop by providing them with a temporary shield from foreign competition. This gives them time to grow and become competitive before facing international competition.
However, it is important to strike a balance as foreign competition can also bring benefits, such as innovation and lower prices for consumers. The automobile industry, for example, benefits from global collaboration and competition, which can lead to advancements in technology and improved products.
Lastly, it is crucial to ensure that trade does not enable foreign firms to bypass U.S. regulations. All companies, whether foreign or domestic, should adhere to the same regulatory standards to maintain fair competition and protect consumer interests.
Ultimately, the decision to buy a car should be based on individual preferences, considering factors like price, quality, and personal values.
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A network security device that monitors incoming and outgoing network traffic and decides whether to allow or block specific traffic based on a defined set of security rules.
Answers
Answer:
Firewall.
Explanation:
Firewall can be defined as a network security device that monitors incoming and outgoing network traffic and decides whether to allow or block specific traffic based on a defined set of security rules.
Simply stated, a firewall is a network security protocol that monitors and controls inbound and outbound traffic based on set aside security rules.
A firewall is used to control access to a computer or network, as it creates a barrier between a computer or a network and the internet in order to protect against unauthorized access.
Basically, it is a network security device or security system pre-installed on most computers to essentially inspect data being transmitted to or from a computer.
Hence, firewalls are typically bidirectional, it checks all sent and received data and only allow authorized traffic through.
Answer:
Firewall.
Explanation:
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Your credit card has a credit limit of $1,000. Your credit card company reviews your credit line every 6 months.
Answers
The time it will take to increase the limit to $1,600 is 2.5 years, when the credit card has a credit limit of $1,000.
What is a credit card?A credit card is a payment card issued to users or cardholders to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt that is promised to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer usually a bank or credit union creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
A credit card is different from a debit card.
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Your question was incomplete, your full question probably was:
Your credit card has a credit limit of $1,000. Your credit card company reviews your credit line every 6 months. They will not increase your credit line more than 10% each 6-month period. Assuming they increase your limit each 6-month period by 10%, how long will it take to increase your limit to $1,600?
Schaad Corporation has entered into an eight-year lease for a piece of equipment. The annual payment under the lease will be $2,500, with payments being made at the beginning of each year. If the discount rate is 14%, what’s the present value of the lease payments? Ignore income taxes in this problem
Answers
Based on the payments being made at the beginning of the year and the discount rate, the present value of the lease payments is $13,220.75.
What is the present value of the lease payments?The fact that the payments are made at the beginning of the year makes this an annuity due.
The present value is:
= Amount x ( Present value of annuity due factor, 14%, 8 years)
Solving gives:
= 2,500 x 5.2883
= $13,220.75
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reserves are the fraction or portion of checkable deposits that a bank must keep on hand. t/f
Answers
It is true that reserves are the percentage of checkable deposits that a bank is required to hold on hand.
The percentage of deposits that banks must hold on hand in reserves is the reserve requirement, correct?The required reserve ratio identifies the portion of deposits that banks are required to hold in reserves. The ratio of deposits to required reserves is what determines this. If the statutory reserve ratio is 10%, banks are obligated to hold 10% of their deposits in necessary reserves.
What is the name of the percentage of deposits that banks are required to hold?The reserve ratio (also known as the reserve requirement) is the percentage of deposits that a bank must retain in reserves as opposed to lending out, and it is determined by the Federal Reserve.
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Describe entrepreneurship. How is it different than working for someone else?
How does entrepreneurship affect you? How does it affect the economy?
Answers
It is the study of process involved in identifying a business opportunity and acquiring the necessary resources to start and run the business
~It has created employment
~It has reduced rural-urban migration since some businesses have been set up in Rural areas.
~Saving imports since goods can be locally produced reducing the cost of importing them
~It has raised people's standard of living since one can acquire goods he/she can't produce
~The government can earn there revenue from taxation of the businesses set up by the entrepreneurs
The entrepreneur is the person involved in entrepreneurship.He/she can be the employer of his/her business.Thats what makes it different from being employed/working for someone else.We can say Bill Gates is an entrepreneur since he started Microsoft
5. Understanding the IRR and NPVThe net present value (NPV) and internal rate of return (IRR) methods of investment analysis are interrelated and are sometimes used together to make capital budgeting decisions. Consider the case of Cold Goose Metal Works Inc. :Last Tuesday, Cold Goose Metal Works Inc. Lost a portion of its planning and financial data when both its main and its backup servers crashed. The company’s CFO remembers that the internal rate of return (IRR) of Project Lambda is 11. 3%, but he can’t recall how much Cold Goose originally invested in the project nor the project’s net present value (NPV). However, he found a note that detailed the annual net cash flows expected to be generated by Project Lambda. They are:YearCash FlowYear 1 $2,400,000Year 2 $4,500,000Year 3 $4,500,000Year 4 $4,500,000The CFO has asked you to compute Project Lambda’s initial investment using the information currently available to you. He has offered the following suggestions and observations:• A project’s IRR represents the return the project would generate when its NPV is zero or the discounted value of its cash inflows equals the discounted value of its cash outflows—when the cash flows are discounted using the project’s IRR. • The level of risk exhibited by Project Lambda is the same as that exhibited by the company’s average project, which means that Project Lambda’s net cash flows can be discounted using Cold Goose’s 7% WACC. Given the data and hints, Project Lambda’s initial investment is __________ , and its NPV is ____________ (rounded to the nearest whole dollar). A project’s IRR will ______ if the project’s cash inflows increase, and everything else is unaffected
Answers
The initial investment of Project Lambda was $9,325,350.56.
The NPV of Project Lambda is $1,514,304.22,
How to solve for initial investmentPV = A / (r * (1 + r)^n - 1)
where PV is the present value, A is the annual cash flow, r is the discount rate (which is the project's IRR), and n is the number of years.
Using the given annual cash flows and the project's IRR of 11.3%, we can calculate the present value of the annuity as follows:
PV = $2,400,000 / (0.113 * (1 + 0.113)^1 - 1) + $4,500,000 / (0.113 * (1 + 0.113)^2 - 1) + $4,500,000 / (0.113 * (1 + 0.113)^3 - 1) + $4,500,000 / (0.113 * (1 + 0.113)^4 - 1)
PV = $9,325,350.56
Therefore, the initial investment of Project Lambda was $9,325,350.56.
To calculate the NPV of the project, we can use the formula:
NPV = PV of cash inflows - Initial investment
Using the present value of the annuity calculated above as the PV of cash inflows, we can calculate the NPV as follows:
NPV = $2,400,000 / (1 + 0.07)^1 + $4,500,000 / (1 + 0.07)^2 + $4,500,000 / (1 + 0.07)^3 + $4,500,000 / (1 + 0.07)^4 - $9,325,350.56
NPV = $1,514,304.22
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Assume that labor and capital are the only two inputs a perfectly competitive firm uses to produce wheat. The firm hires its inputs in perfectly competitive input markets. The unit price of labor is $8 and of capital is $20. When the firm employs the profit-maximizing combination of these two inputs, the marginal product of labor is 2 tons of wheat and of capital is 5 tons of wheat. The price of wheat per ton must be
Answers
The price of wheat per ton must be $4 when profit-maximizing combination is employed.
What is Price?This is defined as the amount of money that has to be paid to acquire a given product.
To get the price per ton for the company to make profit, we find the ratio of the unit price of labor to the marginal product of labor.
$8 / $2 = $4.
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HELP PLEASE!!!
Step 1: Watch the Videos
Watch the following Ted Talk:
John Gerzema: “The post-crisis consumer.”
Step 2: Write Newspaper Advice Column
Now you will write a newspaper article entitled, “Tips for Consumers”. In it you want to give advice on how to make the best decisions when it comes to purchasing.
Imagine that you had interviewed John Gerzema and quote him in your article at least twice. Be sure that your article discusses the following:
Researching big purchases
Buying durable products
Avoiding impulse buying by delaying purchasing for a day or more
Answers
A sample newspaper article with the title is given below:
The Newspaper Article"Tips for Consumers: Making Smart Purchasing Decisions"
In today's fast-paced consumer culture, it can be easy to fall into the trap of impulse buying and making hasty decisions when it comes to big purchases. However, by taking the time to research and consider your options, you can ensure that you are getting the most for your money and making smart decisions that will pay off in the long run.
Gerzema advises that consumers should take the time to compare prices and read reviews from other customers before making a purchase.
In conclusion, by taking the time to research, opt for durable products and avoid impulse buying, consumers can make smart purchasing decisions that will save them money and give them the most value for their money
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helpppppppppppppppppppppppppp
Answers
By law, an accountant must hold a CPA designation in order to
?
Answers
Answer:
The CPA designation isn't required to work in corporate accounting or for private companies. However, public accountants—which are individuals working for a firm, such as Deloitte or Ernst & Young, that provides accounting and tax-related services to businesses—must hold a CPA designation.
Explanation:
Answer:
Prepare audited or reviewed financial statements.
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HELP PLEASE!
1. The Inca civilization's city of Machu Pichu is an example of...
exceptional creative skills
exceptional political skills
exceptional engineering skills
exceptional life skills
2. Before you start practicing as an architect, you must first be certified through:
the NCAA (the National College Athletics Association)
the NWAC (the Northwest Accreditation Committee)
the NCARB (the National Council of Architectural Registration Boards)
the ITSE (the International Technology Symposium of Engineers)
3. Some warehouses and factories may utilize the services of:
an artist
a digital animator
an architect
a meteorologist
4. Ancient architects have used the principles of design to build which of the following?
Homes
Public spaces
Temples & religious spaces
All of the answer choices are correct
5. When researching which career that interests you the most, why is it important to also consider the projected growth of the profession?
It reveals who your competition might be.
It reveals the possible number of jobs that will be available in the field.
It directly relates to how many professional friends you will be making in the future.
Projected growth has no relevance in today's society.
6. An architect will create a design taking into account which factors?
Type of software used to create the architectural design
The quality of paper on which the design is printed
The specific color codes used to indicate the structures in the local area
None of the answer choices are correct
7. Architectural firms bid on what type of projects?
Land excavation projects
Land reclamation projects
Urban space beautification projects
Government and private projects
8. To be an effective City Planner, you must have the ability to work with:
others as well as independently
both structural and mechanical engineers
water quality specialists and pollution controllers
Interior design firms and Urban Planners
9. The structures that a structural engineer designs and builds must take into account which of the following?
Weather
Traffic
Changes in temperature in the structure
All of the answer choices are correct
10. A city planner is responsible for developing effective plans for the development and use of land in which of the following places?
Urban regions
Metroplexes
Small Towns
All of the answer choices are correct
Answers
2.NCARB
3. An architect
4. All of the above
5. It reveals possible number of jobs
6. None of the above
7. Government and private projects
8. Others as well as indepently
9. Traffic
10. Urban regions
The president of a printing firm decided the company should purchase a costly new press that can also be programmed to make a variety of folds, such as alternating, diagonal, and accordion folds. Last year, the company had only two orders for these folds. However, the president does not want to turn away business or outsource any order, so the buyer must get bids for a new press. Which type of influence has affected this business decision? Explain your reasoning.
Answers
Materiality type of influence has affected this business decision.
business is the practice of making one's dwelling or being profitable by producing or shopping for and promoting merchandise (including goods and services).it is also "any interest or agency entered into for profit."
Having a business name does now not separate the business entity from the proprietor, because of this that the owner of the enterprise is accountable and accountable for debts incurred via the commercial enterprise. If the business acquires money owed, the creditors can go after the owner's personal possessions.[6] A commercial enterprise shape does now not permit company tax quotes. The owner is in my view taxed on all profits from the business.The time period is also regularly used colloquially (but no longer by legal professionals or via public officials) to consult a business enterprise, consisting of a company or cooperative.Learn more about business here: https://brainly.com/question/26106218
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Which industry is the second-largest employer of teens
and young people?
What percentage of employed teens are employed by
the government?
I got it
is retail trade
and 7%
Answers
Answer:
I. Retail industry
ii. 7%
Explanation:
Retail industry is the second largest employers of teen and young people next to health sector which is the largest employer.
Retailing involves buying goods either from the producers or wholesaler and selling them to the final consumers. Some services are also offered in these retailing such as call center representative, those who work in innovation lab. etc
In the United States, about 7% of teens and young people are in the employment of government , while retail industry is the largest employer of teen and young people because it provides flexibility and also do not involve much academic qualifications.
Example of these retail jobs are those who work in call center, sales representatives and those who works in stores.
Answer:
Retail Trade
7%
Explanation:
Edge 2020
For an economist, the cost of something is:
Answers
For an economist, the cost of something is: cost is the measure of the alternative opportunities foregone in the choice of one good or activity over others.
In general terms, the monetary value of goods and services purchased by producers and consumers. In a basic economic sense, cost is a measure of alternatives that are abandoned when choosing one product or activity over another.
These basic costs are commonly referred to as opportunity costs. For example, for fixed-income consumers, the opportunity cost of buying a new home appliance can be worth the missed vacation trip.
Traditionally, the cost is related to the relationship between the value of production input and the production level. Total cost refers to the total expenditure required to achieve a certain level of output. Divide this total cost by production to get the average cost or unit cost.
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What was one benefit and one cost of the Fed’s unusual step of buying long-term securities following the financial crisis of 2008–2009? pls I need is asap for my economic class
Answers
Federal bought good quality securities at lower prices during financial crisis. They also had to bear the cost of losing money on some stocks that lost capitalization due to the crisis.
What is financial crisis?Financial crisis in the economy refers to increased prices of goods and decrease in the market capitalization due to a decline in the economy. Federal bought securities for long-term during 2008 financial crisis.
The benefit of buying this dip was that federal was able to invest in quality stocks at discounted prices. However, it also lost money in companies which could not survive after the end of the financial crisis.
Hence, the benefits and costs of Federal's purchases during the financial crisis of 2008-09 are as aforementioned.
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The total factory overhead for Big Light Company is budgeted for the year at $807,500. Big Light manufactures two different products - night lights and desk lamps. Night lights is budgeted for 60,000 units. Each night light requires 1/2 hour of direct labor. Desk lamps is budgeted for 80,000 units. Each desk lamp requires 2 hours of direct labor. Determine the total number of budgeted direct labor hours for year.
Answers
Answer:
Explanation:
Budgeted direct labor hour is defined as the average time it will take to complete a budgeted production . This is calculated by multiplying the budgeted production by the labor hour per unit of production.
Workings
Total overhead budget = 807,500
Night light budgeted production = 60,000
Desk lamp budgeted production= 80,000
Night lamp production = 1/2 hour / unit
Desk lamp production = 2 hour / unit
Night light budgeted hour = 60000*1/5 = 30,000 hours
Desk lamp budgeted hour = 80,000 * 2 = 160,000 hours
Total number of budgeted direct labor hours = 190,000 hours
How should the headings of a resume be formatted so that they are clear and easy to find?
a. bold and italicized
b. capitalized and bold
c. underlined and italicized
d. capitalized and underlined
Answers
Answer:
B. capitalized and bold
Explanation:
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Got it correct on Edge.
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1 Blossom Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $22,500 and sales taxes $1,125. 2. Oriole Company does not segregate sales and sales taxes. Its register total for April 15 is $14,310, which includes a 6% sales tax.
Prepare the entry to record the sales transactions and related taxes for Blossom Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answers
Answer and Explanation:
The Journal entry is shown below:-
a. Cash Dr, $23,625
To Sales Revenue $22,500
To Sales Tax payable $1,125
(Being cash is recorded)
Here we debited the cash as it increased the assets and we credited the sales revenue and sales tax payable as it increased the revenue and liabilities
b. Cash Dr, $14,310
To Sales Revenue $13,500
To Sales Tax payable $810 ($14,310 ÷ 106 × 6)
(Being cash is recorded)
Here we debited the cash as it increased the assets and we credited the sales revenue and sales tax payable as it increased the revenue and liabilities
karl marx believed that the industrial-capitalist system was
Answers
Karl Marx believed that the industrial-capitalist system was exploitative, inhuman, and alienating.
He believed that the system primarily benefited the capitalists and that the workers were exploited to extract as much surplus value as possible from them. Marx saw the alienation of workers as a significant problem of capitalism. In his view, workers were alienated from their labor because they had no control over the products they produced or the conditions under which they worked. They were also alienated from each other because they were forced to compete for jobs in a system that pitted them against each other.
Marx believed that workers were alienated from themselves because they were unable to express their true selves through their work. They were reduced to mere commodities and treated as nothing more than cogs in the industrial machine.
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explain how operations strategy can help a business sustain its competitive advantage.
please answer this question in an essay.
Answers
Answer:
Operations can help a business sustain their competitive advantage by reducing its cost without considering the way they are reduced.
Explanation:
First of all, to create a business competitive advantage the business has to be more profitable than its competition. In other words, they need to make money in a more effective way than its competitors. This means that they have more margin of profit, instead of selling more. Now, in operations, this works the same. However, the reasons might come from different sources. Whether by having technology more advanced than its competitors. By having more productive processes, or by using materials bought at cheaper prices.
1. The economic system that is most indicative of Capitalism is known as a: 1 point
a. Command Economy
b. Free Market
c. Mixed Economy
d. Fascism
Answers
Answer:
b
Explanation:
Learning is Fun company had current assets amounting to Php 100,000. Noncurrent assets for the year totaled Php 76,000. How much is the company's total assets?
Answers
Non current assets = 76,000
Total assets = current + non current
Total assets = 100,000 + 76,000
Total assets = 176,000
The company's total assets are Php 176,000
How to calculate total assets?By adding current and non-current assets, we will get the company's total assets.
Given:
Current assets = 100,000
Non current assets = 76,000
By adding current and non-current assets:
Total assets = current + non current
Total assets = 100,000 + 76,000
Total assets = 176,000
Taking liabilities into account makes for the most accurate calculation of total assets. To determine total assets, you subtract the value of liabilities from the value of assets.
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NEED HELP ASAP.
If you are sure that you will be able to pay off the balance of your credit card bill in full each month, you should consider:
A) getting two credit cards, so you always have a line of credit open for use.
B) raising your borrowing limit on your credit card so you can spend more
C) only credit cards that offer a low APR
D) only credit cards that offer zero annual fees even if the APR is high.
Answers
Answer:
D
Explanation:
If you are sure that you will be able to pay off the balance of your credit card bill in full each month, you should consider only credit cards that offer zero annual fees even if the APR is high.
What is the Balance?Equilibrium or equipoise; an even distribution of weight, quantity, etc.; a counterpoise employed to establish equilibrium. stability of the mind or the emotions; a propensity for calm behavior, judgment, etc. a condition of balance in the body: He dropped down the steps after losing his footing.
When you can, try to pay off the entire sum on your credit card. Maintaining a recurring credit card load can increase your credit usage rate, which is one of the factors used to determine your credit ratings, and cost you money in interest.
If you pay off the entire balance on your credit card by the due date each month, interest will not be charged. Improve your credit score: You may build a solid payment history by using your credit card and paying off the balance.
Therefore, Thus option (D) is correct.
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