Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Microeconomics Expert

You are a judge and hear a case related to Hinkus McGroo, who owns an amusement park. One of his rides malfunctioned and caught on fire, causing damage to a nearby home. He is being sued by the owner of the home on the grounds that Mr. McGroo was negligent in not preventing the fire from happening, but Mr. McGroo feels that he met the burden of care by spending $2,400 on safety materials and training his employees to avoid such damage. An expert testifies that that owners of such a ride should expect a 2% chance of the ride catching on fire and causing damage to surroundings, and that the expected amount of damage would be $100,000. Using the Hand Rule, did Mr. McGroo meet the burden of care expected of him? In other words, did he adequately prepare for such a fire in terms of the money he spent?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M945354

Have any Question? 


Related Questions in Microeconomics

Need someone to help with the belowthe theory of market

Need someone to help with the below The theory of market economies emphasizes freedom of choice and limited government intervention. The classic argument for government intervention is market failure - the inability of t ...

Iowa elevatorsresponses will be in a compact format the

Iowa Elevators Responses will be in a compact format. The content of the papers should not exceed three pages in length, excluding the title page, executive summary, or any references. Title Page: Executive Summary: Give ...

Application evaluation of research resultsno research

Application: Evaluation of Research Results No research project or study is perfect. Studies that contain errors can produce unreliable or misleading results. As a consumer of research, you must be able to determine the ...

Assignment emerging economies and Assignment: Emerging Economies and Globalization

Assignment: Emerging Economies and Globalization Background Markets in developed economies are approaching saturation level. Therefore, MNCs are searching for new untapped markets in emerging countries such as India and ...

Assignmentinstructions the topic of the research paper will

Assignment Instructions: The topic of the research paper will be any disease or condition of the body. The paper must include a thorough description of the disease/condition; current statistics of those affected - epidem ...

Assignmentfor this assignment write a paper describing how

Assignment For this assignment, write a paper describing how an analysis of intrusion signatures could be conducted for your project organization. Include the following in your paper: • A description of signature analysi ...

Economics problemsconsumer demand analysis and estimation

Economics Problems Consumer Demand Analysis and Estimation Applied Problems Please complete the following two applied problems: Problem 1: Patricia is researching venues for a restaurant business. She is evaluating three ...

Assignmentbliss v attorney general of canada was a canadian

Assignment Bliss v. Attorney General of Canada was a Canadian Bill of Rights case. Stella Bliss' claim for maternity benefits (under the former Unemployment Insurance Act) as a form of "equality before the law" was rejec ...

Assignmentresearch a company of your choosing that has

Assignment Research a company of your choosing that has global presence. The World's Most Reputable Companies website has a list of 100 multinational businesses with global presence. Feel free to pick a company from this ...

Assignmentvirtually all general managers face

Assignment Virtually all general managers face capital-budgeting decisions in the course of their careers. The most common of these is the simple "yes" versus "no" choice about a capital investment. Regardless of the typ ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro