Examlex
For a particular good,a 5 percent increase in price causes a 15 percent decrease in quantity demanded.Which of the following statements is most likely applicable to this good?
Expression of Opinion
The act of stating or sharing one's thoughts, beliefs, or judgements without the intention of stating a fact.
Misrepresentation
False or misleading statements made about a significant fact, which induce another party to enter into a contract or agreement.
Contractual Term
A contractual term is a provision or condition that forms part of a contract, outlining the rights and duties of the parties involved.
Fraudulent Misrepresentation
A false statement of a material fact made deceitfully to induce another party to enter into an agreement.
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