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In 1191, Three-year old Douglas Moore was playing with one of BIC’s lighters. While playing with the lighter, he started a fire that severely injured his 17-month-old brother. BIC Manufactures Inc. Included several child-safety warning labels on their lighters. These labels identified the risk of fire of injury as a result of misusing the product. The lighter provided warning to adults to “keep out of reach of the children’ or “keep away from children.” The BIC Corporation had knowledge that its lighters could be manipulated by children, but it felt that including safety features would significantly increase the cost of the lighter. The Moore family brought a strict liability suit against BIC. Explain why strict liability should or should not be applicable in this case.
For a competitive market-a seller can always increase her profit by raising the price of her product. if a seller charges more than the going price, buyers will go elsewhere to make their purchases.
Suppose the supply of labor is given by LS = 10w , where LS is the quantity of in millions of persons employed each year, and w is the wage rate in dollars per hour. The demand for labor is given by LD = 80 - 10w. What will be the free-market wage r..
America is a very violent country, compared to countries like Great Britain and India. How do the theoretical explanations for aggression help explain this? How do the ideas of conformity, compliance, and obedience tie into this discussion?
Debbie McAdams paid 8% interest on a $12,500 loan balance. Jan Burke paid $5,000 interest on a $62,500 loan base on 1 year (a) what was the amount of interest paid by Debbie?
For a particular good that is monopolized, the monopolist faces the following demand and cost conditions: How much will this monopolist produce? What price will the firm charge it's customers? Will the firm earn positive economic profits?
1. contrast the ideas of nominal gdp also real gdp. explain why there is one more reliable than the other for comparing
Choose one country that has an undervalued or overvalued currency and explain a possible reason for this. Supply a counter response to a fellow student regarding the previous questions and provide your reason for why that country's currency is under ..
Illustrate distinguish between the functional distribution and personal distribution of income.
Explain the unemployment rate in Tappania is higher now than is has been in 50 years. Can both of those statements be true at the same time.
Gomez runs a small pottery firm. He hires one helper at $15,500 per year, pays annual rent of $5,500 for his shop, and spends $21,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) t..
Why do celebrity icons receive such widespread attention and adulation
What does Cohen feel is the social responsibility of a business to its workers, stakeholders, and society as a whole and how does this perspective align with that of Drucker?
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