Question 1 use a graph to explain the efficiency, Ask an Expert

Management Studies

Question: 1. Use a graph to explain the efficiency consequences of a legal standard that exceeds the efficient level of care:

x¯ > x*.

2. "In general, the injurer's precaution responds to court errors in setting the legal standard under a negligence rule." Is this statement true for all forms of the negligence rule, or only for the simple negligence rule?

3. "Excessive damages increase expected liability under a negligence rule, which results in excess precaution." Explain the mistake in this proposition.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92746959

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