In Tort Law,only People That You Are a Third-Party Beneficiary

question 21

True/False

In tort law,only people that you are a third-party beneficiary to can probably sue you for breach of contract.

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Definitions:

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, quantitatively defined as the percentage change in quantity supplied divided by the percentage change in price.

Incidence

The allocation or impact of a tax or policy on the economic activities or welfare of different groups in society.

Elastic

Describes a situation in which the quantity demanded or supplied of a good or service is highly responsive to changes in price.

Inelastic

Describes a situation where the demand or supply for a product does not significantly change with the price's increase or decrease.