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Deidra has owned and occupied her principal residence for 10 years.Two and one-half years ago, she married Doug who moved into her house.Doug has never owned a home.When Deidra is transferred to another city, she sells the house and has a realized gain of $425,000.Deidra can exclude the realized gain of $425,000 from her gross income under § 121 if she and Doug file a joint return.
Industry's Demand Curve
A graphical representation of the quantity of products or services demanded across an entire industry at various price levels.
Linear Demand Curve
A graph that shows a straight line representing the relationship between price and quantity demanded.
Total Revenue
The total income received by a firm from selling its goods or services.
Marginal Revenue
The increase in income achieved by selling an additional unit of a product or service.
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