BioChem Corporation Operates a Hazardous Waste Storage Facility

question 43

Multiple Choice

BioChem Corporation operates a hazardous waste storage facility. ChemCo Inc. buys BioChem before it is discovered that the firm's disposal practices violated CERCLA. With respect to these violations, Superfund is likely to impose on ChemCo

• A)strict liability.
• B)liability under the nuisance doctrine.
• C)liability on a negligence theory.
• D)no liability.

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Definitions:

Price Floors

A minimum price set by the government, above which a particular good or service can be traded in the market.

Sellers

Individuals or entities that offer goods or services in exchange for money or other compensation.

Binding Price Floor

A price floor set above the equilibrium market price, causing a surplus by preventing the market price from falling to its equilibrium level.

Sellers

Individuals or entities that offer goods or services for sale to potential buyers.