According to the due care theory of product liability   Question 2 options:   A company can be held liable for damages from defective products only when there is an understood agreement between the buyer and seller that is established by their behavior   A company can be held liable for damages as long as the product is defective and dangerous   A company can be held liable only when they fail to observe reasonable standards in the design and manufacture of products   All of the above

All the following are primary considerations when adopting a price discovery system except:   A. Ensuring equitable returns to participants B. Limiting the number of buyers and sellers C. Minimizing costs to both buyers and sellers D. Providing accurate price signals and quality

According to the strict liability theory,   Question 4 options:   Manufacturers can be held liable only if they are negligent in some way   If a consumer signs a sales warranty, the manufacturer cannot be held liable   A contractual relation is necessary for the manufacturer to be held liable   If a product is defective and injures a consumer, a manufacturer can be held liable   all of the above

When a customer is required to buy one product only if the customer also buys a second product, this is called Select the correct answer below: bundling predatory pricing restrictive practice tying sales

To maintain an insurance producer license, an insurance producer MUST do which of the following? Complete 15 hours of pre-licensing study requirements Provide the Director of Insurance proof of appointment by at least one insurance company Complete at least 24 hours of course study Provide the Director of Insurance proof that at least one half of the business previously written was controlled business

In which of the following situations would a company have a lower chance of losing customers when it raises the price of its product? a) There are low switching costs. b) Companies advertise their prices. c) Customers have many sellers to choose from. d) The product is differentiated across companies.

Moderna is a pharmaceutical company. If it receives a patent for a new medicine, which of the following will likely be the result? Group of answer choices lower quantities of output than without the patent. lower prices than without the patent. reduced incentives for pharmaceutical companies to invest in research and development. a product that is priced higher than it would be without the exclusive rights.