What Has Been One Consequence of the Rise of Electronic

question 25

Multiple Choice

What has been one consequence of the rise of electronic discovery?

• A)The creation of a new industry devoted to help law firms sort through the vast amounts of data.
• B)A significant reduction in the amount of time law firms devote to discovery.
• C)The gradual phasing out of the use of interrogatories and depositions.
• D)A decrease in the cost most law firms charge for discovery.

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Definitions:

Efficiency Loss

The decrease in economic efficiency that occurs when a market outcome does not allocate resources in the most economically beneficial way, often due to externalities or market failures.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone and one person’s use does not diminish another's.

Corporate Income Tax

A tax levied on the net income (accounting profit) of corporations.

Product Prices

The amount of money required to purchase a product, influenced by cost of production, supply, demand, and market competition.