Should Those Individuals Who Have Served Time and Later Found

question 85

Short Answer

Should those individuals who have served time and later found wrongfully convicted have reparations paid to them by the governmental body who wrongly incarcerated them? Can you place a monetary value on the loss of freedom?

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Definitions:

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price, indicating how changes in price affect consumer demand or supply levels.

Linear Demand Curve

Represents a straight-line graph which shows the inverse relationship between the price of an item and the quantity demanded, assuming other factors remain constant.

Price Elasticity

An assessment of the responsiveness of the quantity demanded to price changes of a good.

Marginal Revenue

The additional revenue gained from selling one more unit of a good or service.