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An individual was injured while setting off fireworks that he purchased from the ACME Fireworks Company. This individual was a resident of the state of Oregon. He was injured after lighting the fireworks in Oregon. The ACME Fireworks Company was located in the State of Maryland. It sold fireworks to the individual in Oregon. The individual’s injuries cost him – in terms of doctor’s bills and missed income from not being able to work – well over $200,000. The individual sued ACME Fireworks under Oregon common law for negligence. He filed his civil lawsuit against the company in Oregon state court. ACME Fireworks did not, however, respond to or otherwise contest Rice’s lawsuit and Rice was awarded $425,000 in damages by the trial . Based on the legal information that you learned in this chapter, write a 1-2 sentence answer for each of the following questions. a. What type of judgment did the trial court award against ACME Fireworks? b. Which court(s)--state and/or federal courts--would have jurisdiction over the injured individual’s lawsuit against ACME Fireworks? c. Explain the reasoning for your answer to question “b”. d. How did the Oregon state court have personal jurisdiction over ACME Fireworks?
The following table summarizes the marginal abatement cost functions for an industry with two sources of pollution. What is the level of emissions and abatement at each source under the uniform standard? What is the total compliance cost for the indu..
Suppose output is produced according to the following Cobb-Douglas production function q = K0.8L0.5. a. (4 pts) If K = 1 and L = 4, what level of output is produced? If K = 3 and L = 12, what level of output is produced? b. (6 pts) Does this producti..
Assume, after you graduate, you are paid $3,000 monthly (take home pay). Assuming you spend your entire income at a constant rate throughout the month and do not use a credit card, calculate your average demand for money and the velocity of your mone..
When the price of some important commodity or service rises rapidly, governments face pressure to do something about it. A variety of options are commonly considered. Governments can, and often do, subsidize the supply of goods seen as vital, commonl..
Confused and cannot find much information about the Keynesian model? According to the Keynesian model, what are the two components of consumption spending? What factors determine how consumption changes when real disposable income changes?
To enrich an experience, we can pay attention to what ways an experience is new to you, such as previously overlooked nuances in gratitude. According to Hansen, being able to access a positive mental state is NOT essential for well being and coping.
Adopting NPV>0 projects is in the set of things that we know matter. Give a careful explanation as to why adopting NPV>0 projects is consistent with the goal of the firm.
Find out statistics on the web from 2004 to present on following indicators of the macroeconomic conditions of the U.S. economy.
Define the industry related to the product or service produced by the company you selected for your microeconomic/macroeconomic analysis papers. What are the main companies in the industry? What is the level of market concentration in the industry? T..
Which of the five characteristics listed in the text for human service professionals do you think is most important? Explain why.
A monopolist sells music CDs. It has a constant marginal and average cost of $20. It faces two groups of potential customers: honest and dishonest customers. Given that the marginal cost is constant and equal to the average cost, does the monopolist ..
Suppose that they are negotiating with two non-drowsy allergy drugs, Claritin and Allegra, for inclusion on the formulary. The "value" or "surplus" created by including one non-drowsy allergy drug on the formulary is $100, but the value of the second..
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