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Cole Was Discussing the Market for Cocoa Beans with His

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Essay

Cole was discussing the market for cocoa beans with his friend John Schmidt.Cole said,"Ever since Venezuela announced that its cocoa harvest was its lowest ever in fifteen years,the price of cocoa beans has been rising and rising and people are buying more and more.I think the demand for cocoa beans must be upward sloping." Is Cole right? Briefly explain why or why not.


Definitions:

Defense

The evidence and arguments presented in support of the defendant's case in a criminal action or lawsuit.

Contributory Negligence

A theory in tort law under which a complaining party’s own negligence contributed to his or her injuries. Contributory negligence is an absolute bar to recovery in some jurisdictions.

Proximate Cause

Legal cause; exists when the connection between an act and an injury is strong enough to justify imposing liability.

Assault

An intentional act by one person that creates an apprehension in another of an imminent harmful or offensive contact.

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