A Light-Bulb Exploded When It Was Switched On

question 12

Multiple Choice

A light-bulb exploded when it was switched on. Which of the following people may recover under the implied warranty of merchantability of they are injured?​

• A)The purchaser of the bulb only
• B)The purchaser of the bulb and family members living in the home only
• C)The purchaser of the bulb, family members living in the home and guests only
• D)No one unless the bulb was guaranteed not to explode

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Definitions:

Demand Curve

a graphical representation of the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at various prices.

Soybeans

A species of legume native to East Asia, widely grown for its edible beans which have numerous uses in food, oils, and as animal feed.

Insulin

A hormone produced by the pancreas that regulates blood glucose levels by facilitating the uptake of glucose into tissues.

Monopoly

A market structure characterized by a single seller that exercises exclusive control over a particular commodity or service, preventing competition.