The Explanation for the Structural Failure That Led to Hyatt

question 5

Multiple Choice

The explanation for the structural failure that led to Hyatt Regency walkway collapse is a

• A) change in design by the builder to bolt instead of weld joints holding the walkway.
• B) change in design which tripled the load on a nut holding the walkway.
• C) decision to opt for two steel rods instead of one holding the walkway.
• D) All of the above

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Definitions:

Market Failure

A situation in which the allocation of goods and services by a free market is not efficient, leading to a loss of economic value.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

Nonexcludable

A characteristic of a public good where no one can be prevented from using it.

Nonrival

A characteristic of a good or service whereby one person's consumption does not diminish the utility or availability for others.