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Principals are bound by the unauthorized contracts of their independent contractors.
Rental Price
The amount of money charged for leasing or renting a property, such as a house or an apartment.
Supply and Demand
Refers to the economic model that determines the price of goods and services based on sellers' supply and buyers' demand.
Excess Demand
A market condition where the quantity demanded of a good or service exceeds its quantity supplied at a given price.
Equilibrium Price
The cost in the market at which the supply and demand for goods are balanced.
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