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Which of the following would cause a decrease in the equilibrium price and decrease in the equilibrium quantity of papayas?
Anglo-American Law
A legal system originating in England and now prevalent in the United States and many Commonwealth countries, characterized by the doctrine of precedent.
Currency Substitute
Any means of payment used in lieu of traditional money (coins and banknotes) for the transaction of goods and services.
Enforceable Contract
An agreement between parties that is legally binding and can be upheld in a court of law.
Negotiable Instruments
Financial documents that are transferable from one person to another, designed to guarantee the payment of a specific amount of money either on demand or at a set time.
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