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Cailee Has a Garage Sale at Which She Sells a Defective

question 39

True/False

Cailee has a garage sale at which she sells a defective food processor to Dylan.Cailee will be liable to Dylan in strict tort liability under Section 402A of the Restatement of Torts if he is injured using the product.


Definitions:

Total Revenue

The sum of money a company earns from selling products or providing services in a specific time frame.

Elastic

Describes a situation where the quantity demanded or supplied of a good or service is highly responsive to changes in its price.

Inelastic

Characterizes a situation where the demand for a product is not significantly affected by changes in price.

Elastic

Describes a situation in economics where the demand for a product or service significantly changes in response to a change in price.

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