In a Bailment, Strictly Liable for Any Loss or Damage

question 64

Multiple Choice

In a bailment, strictly liable for any loss or damage to bailed goods are

• A)common carriers.
• B)warehouse companies.
• C)ordinary bailees.
• D)all of the choices.

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Definitions:

Short Run

A period in economics during which at least one factor of production is fixed, limiting the ability of the economy or firm to adjust.

Long Run

A time frame in economics where all factors of production can be varied, allowing for full adjustment to changes.

Marginal Revenue

The enhanced earnings a business receives by selling one more unit of its goods or services.

Marginal Cost

The swell in overall financial outlay resulting from the crafting of an extra unit of a good or service.