The Two Factors Utilized to Determine If Property Is Abandoned

question 95

Short Answer

The two factors utilized to determine if property is abandoned are the location of the property and the________of the owner.

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Definitions:

Market-determined Price

The price of a good or service as dictated by the forces of supply and demand in a competitive market, without external interventions.

Elastic

Describes a situation in which the demand or supply for a good is sensitive to changes in price.

Firm

A business organization, such as a corporation or partnership, that sells goods or services in exchange for revenue.

Variable Costs

Costs that vary directly with the level of output or production, such as materials and labor costs.