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Question: Plaintiff was nineteen and a student at a university. He was a member of a fraternity and lived in the fraternity house. The fraternity sponsored a mixer at its house and served alcoholic beverages to all guests regardless of age. (The lawful drinking age was twenty-one.) Plaintiff, was known to have maintained his own supply of liquor at the house. Plaintiff was observed drinking continuously all evening. During the early morning hours, he sat at the bar and consumed large amounts of whiskey with a fraternity brother, matching him drink for drink, and then plaintiff passed out. Several of his fraternity brothers then took him up to the television room, put him on the floor, placed a pillow under his head, pulled a blanket over him, and left him to "sleep it off." The next morning, at about 10 A.M. they tried to wake him up, but he did not respond. He was then taken to a local hospital, where he died. The autopsy showed his blood-alcohol content was .43 percent and the cause of death was acute alcohol intoxication. What tort did his family use to sue the fraternity? Identify arguments both for plaintiff as well as for defendant before reaching your conclusion.
1. Highlight the pertinent facts;
2. Identify the issue of law posed by the case problem;
3. What should be the decision in the case?
4. The reasoning for such decision.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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