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People Buy More of Good 1 When the Price of Good

question 67

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People buy more of good 1 when the price of good 2 rises.Good 1 and good 2 are


Definitions:

Rescission

The act of cancelling a contract and returning all parties involved to their positions prior to the agreement, effectively nullifying the contract's obligations.

Demonstrator

A person who participates in a public protest or demonstration.

Rectification

The correction of a mistake in an agreement that would have rendered the agreement impossible to perform.

Innocent Misrepresentation

A false statement made without knowledge of its falsehood, leading another to enter into a contract under mistaken beliefs, without intent to deceive.

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