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Consider the following pairs of items:
a. shampoo and conditioner
b. iPhones and earbuds
c. a laptop computer and a desktop computer
d. beef and pork
e. air-travel and weed killer
Which of the pairs listed will have a negative cross-price elasticity?
Unconscionability
A legal doctrine that describes terms in a contract that are so unjust or overwhelmingly one-sided that they are deemed unenforceable.
Misrepresentation
A false statement of fact made by one party to another, which induces the latter to enter into a contract or agreement.
Expert
An individual with specialized knowledge or skills in a particular area, often called upon to give opinions or advice.
Rescission
The legal cancellation of a contract, which may release all involved parties from their contractual obligations.
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