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What happens when a plaintiff establishes the elements of a res ipsa loquitur case?
Luxury Good
A product or service that is considered to be of high quality and high price, often seen as a status symbol.
Monetary Cost
The amount of money required to purchase goods or services, or the financial expenditure associated with an action or decision.
Benefits Received
A principle in public finance that taxes should be levied according to the benefits received by the taxpayer from government services.
Price Elasticity
A measure of how responsive the quantity demanded of a good is to a change in its price.
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