The tort of Private Nuisance involves a balancing act as the Court has to balance opposing views of land usage. Assess the accuracy of this statement.
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The tort of Private Nuisance involves a balancing act as the Court has to balance opposing views of land usage.
Assess the accuracy of this statement.
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- Suppose there are three types of used cars that consumers are willing to purchase: “Good”; “OK”; and “Bad”. Consumers are willing to pay $10,000 for a Good car, and because they will require more work, consumers are willing to pay $7,000 for an OK car, and $3,000 for a Bad car. All types of car appear identical to consumers—the only differences are with regard to latent mechanical and electronic attributes that can be detected only by an expert. Although there is no way for consumers to determine the type of car they are purchasing before they purchase, all consumers know that 50% of used cars are Good, 25% are OK, and 25% are Bad. Further, consumers will be able to determine what type of car they have purchased after owning the car for 3 months. The attached table describes the minimum price that sellers of different types of cars are willing to accept from a buyer. Suppose that a car seller can purchase a report that credibly reveals the true type of their car for $300. Who will…Suppose there are three types of used cars that consumers are willing to purchase: “Good”; “OK”; and “Bad”. Consumers are willing to pay $10,000 for a Good car, and because they will require more work, consumers are willing to pay $7,000 for an OK car, and $3,000 for a Bad car. All types of car appear identical to consumers—the only differences are with regard to latent mechanical and electronic attributes that can be detected only by an expert. Although there is no way for consumers to determine the type of car they are purchasing before they purchase, all consumers know that 50% of used cars are Good, 25% are OK, and 25% are Bad. Further, consumers will be able to determine what type of car they have purchased after owning the car for 3 months. Suppose that the attached table describes the minimum price that sellers of different types of cars are willing to accept from a buyer. Given these values, what type of cars will be sold in the market? A) Good cars only B) Good and OK cars…Need recognition can be triggered by an internal or external cue. True False
- H3. TRUE OR FALSE Consistent extremists are a high percentage of the American population (over 20%).The Australian health sector suffers from informational asymmetry problems pertaining to ‘moral hazard’ and ‘adverse selection’. Please provide a reason for why you either agree or disagree with the statement.Define the characteristics of a vulnerable consumer. Considering ethics, should there be greater government regulation with respect to selling to vulnerable consumers? Within the context of a Christian worldview, why should businesses consider the methods of marketing to vulnerable consumers? Be sure to support your responses with evidence from the readings or additional references.
- One-Jet Airlines has 100 customers and is the only airline servicing two small cities in the Midwest. Half of One-Jet’s customers are leisure travelers and half are business travelers. Business travelers are willing to pay $600 for a ticket that does not require a Saturday stayover and $100 for a ticket that requires a Saturday stayover. Leisure travelers are flexible, willing to pay $300 for a ticket regardless of whether it requires a Saturday stayover. One-Jet is unable to determine whether a particular customer is a business or leisure traveler. Consequently, the airline’s current pricing policy is to charge $300 for all tickets. As a pricing consultant for One-Jet Airlines, can you devise a self-selection mechanism that will permit One-Jet to increase revenues and continue to serve all its customers? Explain.Do you agree with the Reeves v. Ernest & Young court that the Family Resemblance test and the Investment versus Commercial tests are really two ways of formulating the same general approach? Explain.Substanlially true stalements made by an applicant on an Accident and Health application are known as: A.warranties B.representations C.concealments D.waivers
- For each of the following situations, indicate the amount of the penalty that could be imposed on the tax return preparer: a. A tax return preparer understates the taxpayer’s tax liability with a frivolous position and does not disclose the position.$______________________ b. A tax return preparer fails to furnish his identifying number.$___________ c. A tax return preparer aids a taxpayer in understating a tax liability. $______ d. A tax return preparer endorses and cashes a client’s tax refund check. $____Which problem is not an issue in a universal public insurance Moral hazard Adverse selection Overutilization None of the aboveIt was felt that liability insurance would undermine the tort system, which has as its central theorem the concept that the individual responsible for injuring another should be made to pay for that injury. Do you think the existence of liability insurance causes one to be less careful than he or she might otherwise be?
