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Related to the Economics in Practice on p. 66: Assuming the demand for Baltimore newspapers increases while the supply of Baltimore newspapers decreases, the equilibrium ________ will definitely ________.
Oral Agreement
An agreement made verbally without written documentation, enforceable only under specific circumstances and often harder to prove.
Infant
In legal terms, refers to a person who is under the age of majority, and thus limited in their legal capacity to contract or make decisions.
Defame
To damage someone's reputation, name, or character through false and malicious statements.
Guarantee
A formal pledge to ensure the fulfillment of a contract or the performance of an obligation, sometimes by providing a replacement or repair in case of default.
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