Reference no: EM131388314
Heckman, an employee of Clark Equipment Company, severely injured his left hand when he caught it in a power press that he was operating at work. The press was manufactured by Federal Press Company and sold to Clark eight years earlier. It could be operated either by hand controls that required the use of both hands away from the point of operation or by an optional foot pedal.
When the foot pedal was used without a guard, nothing remained to keep the operator's hands from the point of operation. Federal Press did not provide safety appliances unless the customer requested them, but when it delivered the press to Clark with the optional pedal, it suggested that Clark install a guard. The press had a similar warning embossed on it. Clark did, in fact, purchase a guard for $100, but it was not mounted on the machine at the time of the injury; nor was it believed to be an effective safety device. Heckman argued that a different type of guard, if installed, would have made the press safe in 95 percent of its customary uses.
Federal, in turn, argued that the furnishing of guards was not customary in the industry; that the machine's many uses made it impracticable to design and install any one guard as standard equipment; that Clark's failure to obey Federal's warning was a superseding cause of the injury; and that state regulations placed responsibility for the safe operation of presses on employers and employees. The jury awarded Heckman $750,000, and Federal appealed. Decision?
What is the nash equilibrium and marginal cost
: There are two firms (firm A and firm B). Both have marginal cost = 1. Demand is Q = 11 – P. The firms simultaneously set price. If they set the same price they split the market (Bertrand game). If P^M is not the Nash Equilibrium, what is the Nash Equ..
|
Is montgomery ward liable under a warranty
: Ward claimed that there was no way to detect the disease in the one-day-old chicks, nor was there medication available to prevent this disease from occurring. Is Montgomery Ward liable under a warranty and/or strict liability cause of action? Expl..
|
Compute the abnormal rates of return
: Compute the abnormal rates of return for the five stocks in Problem 1 assuming the following systematic risk measure (betas):
|
Briefly introduce your chosen example of flawed creative
: Identify an instance in which an individual or group was unsuccessful in using creative thinking to solve a problem, such as the passage of prohibition in the United States in an attempt to reduce crime and improve living conditions for the workin..
|
Provide decision in given situation
: Heckman, an employee of Clark Equipment Company, severely injured his left hand when he caught it in a power press that he was operating at work. Decision?
|
Stock returns can be explained by two-factor model
: Assume that stock returns can be explained by a two-factor model. Company-specific risks for all stocks are independent. The table shows the information for two diversified portfolios. If the risk-free rate is 2.5 percent, what are the risk premiu..
|
Draw the position vector to scale on cartesian axes
: Write an expression for the position vector using complex number notation, in both polar and cartesian fonns
|
Can dr livingston and radek patent the dodo dna
: Dr. Livingston comes to Radek with the feather of a Dodo bird encased in amber. Dr. Livingston wants to extract the DNA from the feather and patent it. Can Dr. Livingston and Radek patent the Dodo DNA?
|
Fed monetary policy could have an impact on the economy
: Why did Volcker's disinflation set a precedent that Fed chairs that came after him were able to benefit from? Because he showed that the Fed's monetary policy could have an impact on the economy. Because he set a precedent that showed that the Fed ca..
|