Raising the Price of a Good by One Dollar

question 9

Multiple Choice

Raising the price of a good by one dollar

• A)increases profits.
• B)decreases profits.
• C)leaves profits unchanged.
• D)leads to an indeterminant change in profits.

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Definitions:

Primarily Liable

Being the first or main party responsible for fulfilling a financial or legal obligation.

Fraud in the Factum

Refers to a specific type of fraud where a person is deceived into signing a document not knowing its true nature or essence.

Negotiable Instrument

A written promise or order to pay a fixed amount of money, easily transferable from one party to another.

Promissory Note

A written promise to pay a specified sum of money to a certain individual or entity under agreed-upon terms.