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The Demand Curve for an Inferior Good Can Never Be

question 55

True/False

The demand curve for an inferior good can never be downward sloping.


Definitions:

Legal Liability

The responsibility of an individual or entity for actions or omissions that result in harm or loss to another party, subject to legal sanctions.

Assignment

(1) A contracting party’s (an assignor’s) transfer of his or her rights to the contract to a third party (an assignee). (2) A transfer of a tenant’s entire interest in a leased property.

Covenant of Quiet Enjoyment

A lease promise that the tenant will have peaceful and undisturbed use of the property, without interference from the landlord or others with superior title.

Constructive Eviction

An action by a landlord that significantly interferes with or diminishes the use of a property by a tenant, which leads to the tenant being effectively forced to leave.

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