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    Marginal probability

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    When an increase in precaution will reduce liability from 10% to 4%, for example, how do you compute that? If the damages were $500,000 would it be 6% of $500,000?

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    https://brainmass.com/economics/economic-analysis-of-law/marginal-probability-precaution-73276

    Solution Summary

    Marginal probability is determined. An increase in precaution which will reduce liability is discussed.

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