Evaluating tort law solely from the standard of economic efficiency,
a. tort law fails at spreading the risk.
b. tort law deters specific behavior
c. tort law punishes bad behavior.
d. none of these is correct
B
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If a customer values good A at $15, and it costs the firm $10 to produce, the firm can increase its profits if
a. Redesign the product such that it delivers $16 in customer value b. Redesign the production process so that the costs fall to $9 c. One or both of the above d. None of the above
As a result of the global financial crisis in 2008, _____
a. U.S. interest rates fell and the cost of servicing U.S. debt decreased b. U.S. citizens increased their purchase of foreign securities c. U.S. chronic deficits increased and debt service costs overwhelmed the budget d. debt issued by U.S. government entities was judged to be the safest in the world e. there was downgrading of the nation's credit risk by the chief credit-rating agency in 2011
If the average price level in 1991 was 1.20 relative to the base year in 1986, then a dollar in 1991 bought 20 percent more goods and services than a dollar in 1986
a. True b. False Indicate whether the statement is true or false
Reduced competition through merging of companies will raise social welfare
a. if the social cost from the synergies exceeds the benefit of increased market power. b. if the benefit from the synergies exceeds the social cost of increased market power. c. always. d. never.