Torts Involve Carelessness on the Part of the Defendant

question 20

Multiple Choice

torts involve carelessness on the part of the defendant.

• A) Comparative liability
• B) Intentional
• C) Negligent
• D) Strict liability

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Definitions:

Variable Costs

Costs that change in proportion to the level of output or business activity, such as materials and labor directly involved in production.

Advertising Costs

Expenses incurred in promoting a product, service, or brand to potential customers.

Monopolistically Competitive Firm

A type of firm in a market structure where many companies sell products that are similar but not identical, allowing for significant competition but with some control over price.

ATC

Average Total Cost, which is the total cost of production (fixed plus variable costs) divided by the quantity of output produced.