If Mortgagors Sell the Interest in Their Property Without the Consent

question 3

Multiple Choice

If mortgagors sell the interest in their property without the consent of the mortgagee:

• A)they have acted illegally.
• B)the sale does not affect the mortgagee's interest in the property.
• C)the mortgagee will lose his/her interest in the property.
• D)the mortgagee will lose all claims against the mortgagor.

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Definitions:

Multiplant Monopolist

A monopolistic firm that operates more than one production facility in different geographic locations to maximize profits and maybe meet differentiated demand.

Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period.

Marginal Revenue Curve

A graphical representation showing how marginal revenue changes as output level changes.

Competitive Industry

An industry characterized by many firms offering similar products where no single firm can influence the market price.