What would be the effect of a 75 percent tax on lawsuit punitive awards that was proposed
Question:
a. The number of punitive awards. Demonstrate your answer using supply and demand curves.
b. The number of pretrial settlements.
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a The number of punitive awards would decline because the incentive for plaintiffs to pursue a case declines The demand curve shifts down by the amount of the tax lowering the equilibrium price of punitive awards b The number of pretrial settlements would rise because the plaintiff ...View the full answer
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