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The defendant is expected to know that matches can cause dangerous fires even if the defendant's mental illness prevents him or her from knowing this.
Income Elasticity
A measure of how much the demand for a product or service changes relative to a change in consumers' income.
Total Revenue
The total income a firm receives from the sale of its goods or services before any costs or expenses are subtracted.
Least Elastic
Refers to the degree of responsiveness or sensitivity of demand or supply to changes in prices, with the least elastic being the least responsive.
Straight-Line Demand
Straight-Line Demand refers to a demand curve that shows a constant rate of change in the quantity demanded as price changes.
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