What Can Be the Possible Strategy to Avoid Liability

question 328

Multiple Choice

What can be the possible strategy to avoid liability?

• A) Understand what causes liability
• B) Develop you own safety program
• C) Carry adequate liability insurance
• D) None of these

---

Definitions:

Marginal Utility

The augmented satisfaction or value someone derives from the consumption of an extra unit of a good or service.

Consumer Surplus

Consumer surplus represents the discrepancy between the total price consumers are prepared and able to spend on a product or service and the actual amount they end up paying.

Marginal Utility

The additional satisfaction or utility a consumer receives from consuming one more unit of a good or service.

Marginal Utility

Marginal utility represents the additional satisfaction or utility a consumer gains from consuming one more unit of a good or service.