Which of the following best describes contributory negligence? a. Party A and Party B are at fault. The victim (Party C) can sue both of them at once. b. Party A and Party B are at fault. The victim (Party C) can sue either of them separately. c. Party A is at fault and so is the victim (Party B). Party A is not liable. d. Party A is at fault and so is the victim (Party B). The parties bear cost in proportion to their negligence.

Which of the following best describes contributory negligence? a. Party A and Party B are at fault. The victim (Party C) can sue both of them at once. b. Party A and Party B are at fault. The victim (Party C) can sue either of them separately. c. Party A is at fault and so is the victim (Party B). Party A is not liable. d. Party A is at fault and so is the victim (Party B). The parties bear cost in proportion to their negligence.

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter27: The Basic Tools Of Finance

Section: Chapter Questions

Problem 5PA

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Barney Slipperfoot is strolling through the Piggley Wiggley Super Market. He slips on a blob of mustard that was laying in the middle of the hot dog aisle. A customer had dropped and broken a bottle, reported it to the store clerk, and then checked out and left. Barney breaks two toes on his left foot in the fall. He wants to sue the Piggley Wiggley for negligence. Will he win? Explain your answer. Be sure to discuss the four elements of negligence in your answer (duty, breach, cause, and damages). What defenses may the store possibly bring?
Bonnie regularly lets her boyfriend drive her car whenever they go on a date. Yesterday, he caused an accident driving Bonnie’s car. Will Bonnie’s insurance company cover the accident? a. No, because insurance is always waived when a car is used by a unlisted driver. b. Yes, because PAP coverage follows the car. c. No, because her insurance company will claim that the boyfriend should have been listed as a regular driver of the car. D.Yes, because Bonnie was present when the accident happened.
How does the tort of conversion of personal property differ from trespass to personal property? In conversion, the true owner is denied use and enjoyment of the property. In conversion, the true owner can recover damages for the denial of use of the property. In conversion, the tortfeasor treats the property as if it is his/her own. In conversion, the plaintiff is entitled to recover punitive damages. In conversion, the defendant must have published his/her use of the property to another.
In which of these situations do we see a problem of moral hazard a) A builder hires a new electrician without knowing how quickly she can work. b) A bank does not tell customers about the circumstances when it can levy charges on their account. c) A hotel company encourages independent reviews of its resorts to attract more tourists. d) A car driver repeatedly forgets to lock his car since he is insured against its theft.
Problem: Consider a state in which automobile drivers are divided equally into two types of drivers: careful and reckless. The average annual auto-insurance claim is $400 for a careful driver and $1,200 for a reckless driver. Suppose that the state adopts an insurance system under which all drivers are placed in a common pool and allocated to insurance companies randomly. An insurance company cannot refuse coverage to any consumer it is assigned, but a consumer who is unhappy with the insurance company has the option of being reassigned (randomly) to another. By law, each insurance company must charge the same price to all its customers (i.e. no price discrimination). Assume that the insurance market is perfectly competitive and that claims represent all the costs associated with provision of insurance. Predict the minimum price of auto insurance under two alternative policy scenarios given below. Show all of your work and explain your answers. A. Auto insurance is mandatory B. Auto…
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True or False: Employee compensation in the form of health insurance is currently subject to personal taxation, making it less desirable for people to get health insurance provided by their employer and more desirable for them to purchase it from a private insurance company.
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Identify each of the following as an adverse selection or a moral hazard problema. A person with car insurance fails to lock his car doors when he shops at a mall.b. A person with a family history of cancer purchases the most complete health coverage available.c. A person with health insurance takes more risks on the ski slopes of Aspen than he would without health insurance.d. A college professor receives tenure (assurance of permanent employment) from her employer.e. A patient pays his surgeon before she performs the surgery.
1. When an auto insurance company is screening, it is A. attempting to keep its private information private. B. marketing its policies to customers. C. ignoring the possibility of moral hazard in order to minimize adverse selection. D. trying to determine if a driver is an aggressive driver or a safe driver. E. making its private information public. 2. In the market for health care services, Health Maintenance Organizations A. help overcome adverse selection by enrolling only healthy clients. B. exist to insure people with preexisting medical conditions. C. overprovide medical care and thereby result in increased costs. D. help overcome moral hazard by monitoring the quality of the service. E. None of the above answers are correct 3. Moral hazard in the market for healthcare services leads Question content area bottom Part 1 A. to providers over treating patients.. B. to healthy people not buying health insurance. C. patients to adopt healthy life styles. D. to all…

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	a.	Party A and Party B are at fault. The victim (Party C) can sue both of them at once.
	b.	Party A and Party B are at fault. The victim (Party C) can sue either of them separately.
	c.	Party A is at fault and so is the victim (Party B). Party A is not liable.
	d.	Party A is at fault and so is the victim (Party B). The parties bear cost in proportion to their negligence.