Over the Past Decade Technological Improvements That Have Lowered the Cost

question 219

Multiple Choice

Over the past decade technological improvements that have lowered the cost of producing an automobile have increased

• A) the supply but not the demand for automobiles.
• B) neither the supply nor the demand for automobiles.
• C) the demand but not the supply of automobiles.
• D) both the supply and the demand for automobiles.

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Definitions:

Land Contracts

Legal agreements for the purchase of land in which the buyer pays the seller in installments while the seller retains the title until the full purchase price is paid.

Lienholder

A lienholder is an individual or entity that has a legal right or interest in a piece of property until a debt or loan associated with that property is fully repaid.

Possess

To have or hold something as one's own, to control or occupy something whether physically or legally.

Ownership

The legal right to possess, use, and dispose of something, encompassing both tangible and intangible assets.