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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
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