Moving Downward and to the Right Along a Linear Demand

question 104

Multiple Choice

Moving downward and to the right along a linear demand curve,we know that total revenue

• A)first increases,then decreases.
• B)first decreases,then increases.
• C)always increases.
• D)always decreases.

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Definitions:

Security Interest

A legal right granted by a debtor to a creditor over the debtor's property to secure the repayment of a debt or performance of some other obligation.

Real Property

Land and anything permanently affixed to it, such as buildings and trees.

Mortgage

A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Deed of Trust

A legal document used in some states that involves three parties—the borrower, the lender, and the trustee—and it serves as a lien on real property.