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If the income elasticity for canned food is 0.8, then canned food is an inferior good.
Mentally Ill
A broad term covering a range of mental health conditions that affect mood, thinking, and behavior.
Contractual Capacity
The legal ability of a party to enter into a contract, often considered in terms of age, mental competency, and similar factors.
Mental Competency
The ability of an individual to understand the nature and effects of their actions, particularly relevant in legal proceedings and contracts.
Declaring Incompetent
A legal status adjudged by a court where an individual is deemed incapable of managing their own affairs due to mental disability or incapacity.
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