Use the following to answer questions:
Figure: The Linear Demand Curve 
-(Figure: The Linear Demand Curve) Look at the figure The Linear Demand Curve. If the price is initially $10, then falls to $9, this will result in a(n) _____ in quantity demanded and a(n) _____ in total revenue.
Definitions:
Owners' Equity
The residual interest in the assets of the enterprise after deducting liabilities, representing the owner's claim against the company's resources.
Common Size Financial Statements
Financial statements that present all line items as percentages of a common base figure rather than as absolute numerical figures, facilitating comparison.
Inventory Valuation Methods
Inventory Valuation Methods are accounting processes used to determine the cost of goods sold and the inventory value at the end of an accounting period.
FIFO vs. LIFO
A comparison between two inventory valuation methods: First-In, First-Out (FIFO), where goods first bought are the first to be sold, and Last-In, First-Out (LIFO), where goods most recently bought are the first to be sold.
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