A defendant forced to pay punitive damages must pay the plaintiff
a. the exact amount of actual damage.
b. more than the amount of actual damage.
c. less than the amount of actual damage.
d. nothing.
b. more than the amount of actual damage.
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Which of the following situations describing a resource allocation method most resembles the majority rule method?
A) Seventy percent of Austin's chess club wanted to purchase new chess sets and thirty percent did not. The club purchased the sets. B) Lattes are sold at Starbucks. C) Food from the Weld County Food Bank is distributed to families in need. D) Jose works at Intel. His manager tells him what work needs to be completed each month. E) Matt's mother had the rule that whoever cuts the cake chooses their slice last.
The paradox of value can be resolved by distinguishing between
A) quantity demanded and quantity supplied. B) supply and quantity supplied. C) normative and positive statements. D) total utility and marginal utility.
Producer surplus is the difference between the lowest price a firm is willing to accept for a product and the price it actually receives for the product
Indicate whether the statement is true or false
The utility that people experience from the consumption of a good depends on
A. their income level. B. total sales of the good. C. their tastes and preferences. D. how much shopping time they spent obtaining the good.