Using Deductive Logic, Match Up These Assumptions About Judicial Precedent

question 22

Multiple Choice

Using deductive logic, match up these assumptions about judicial precedent
-Precedent

• A)In case X involving particular circumstances, legal principle Y was applied leading to conclusion Z
• B)In case W, similar circumstances to those in X have occurred
• C)Principle Y must be applied to reach a conclusion similar to Z

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Definitions:

Producer Surplus

The difference between the amount a producer is paid for a good compared to the minimum amount they would be willing to accept for it, a measure of producer welfare.

Price

The sum of money needed to buy a product, service, or commodity.

Quantity

The amount or number of a material or immaterial good considered as a unit or in discrete amounts.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive in the market.