Brian is the sole proprietor owner of Long Voyage Software, which generates maps for wilderness trips. He started the business with an initial investment of $80,000 . A faulty map caused one customer to get hopelessly lost. After her rescue and recuperation, she sued Long Voyage for $5,000,000 . Which of the following is true?
a. The customer can be awarded only $80,000--what the firm has available to pay.
b. The customer can be awarded $5,000,000 but can get only $80,000.
c. The customer can be awarded $5,000,000 . but Brian personally won't have to pay more than $80,000.
d. If $5,000,000 is awarded, Brian will have to pay none of it.
e. If $5,000,000 is awarded, Brian is personally responsible for paying all of it.
E
You might also like to view...
Which of the following is likely to increase measured GDP in the United States?
A) Florida implements a state income tax, prompting more Floridians to obtain jobs in the underground economy. B) Nissan increases production in its Japanese factories to produce more cars for export to the United States. C) Prostitution is legalized in all 50 states. D) A greater number of men in California decide to become "stay-at-home dads" to take care of their kids.
If the MPC = .80, and investment rises from $100 to $150, real GDP will increase by:
a. $50. b. $125. c. $20. d. $250. e. $200.
The economy can produce 15X and 15Y, 10X and 20Y, 5X and 25Y, or 0X and 30Y. It follows that opportunity cost of 1X is ___Y
A) 4.0 B) 5.0 C) 2.5 D) 1.0 E) none of the above
If marginal revenue is $8 and marginal costs is $10, the firm should increase its output.
Answer the following statement true (T) or false (F)