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Suppose that 50 candy bars are demanded at a particular price.If the price of candy bars rises from that price by 4 percent,the number of candy bars demanded falls to 46.Using the midpoint approach to calculate the price elasticity of demand,it follows that the
Punitive Damages
Financial compensation awarded to a plaintiff to punish the defendant for egregious misconduct and dissuade similar future behavior.
Intentional
Done with purpose or deliberation; not accidental or unintentional.
Outrageous
Describes actions or behaviors that are shocking, extreme, and exceed the bounds of decency in a societal context.
Law of Torts
A branch of civil law that deals with legal liabilities, obligations, and damages arising from wrongful acts not involving contracts.
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