In the Ford Pinto Prosecution, the Specific Charges Brought Under

question 22

Multiple Choice

In the Ford Pinto prosecution, the specific charges brought under Indiana law were for which, if any, of the following crimes?

• A) murder
• B) voluntary manslaughter
• C) reckless homicide
• D) product endangerment
• E) none of the above

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Definitions:

Monopolistic Competitor

A firm that operates in a market with many competitors but differentiates its product from others, giving it some control over its price.

Short Run

Describes a period in economics where at least one factor of production is fixed and cannot be changed, limiting the adjustments a firm can make to its output.

Economic Profits

The surplus left to a business after deducting all costs, including opportunity costs, from its total revenues.

Monopolistic Competition

A market structure where many firms sell products that are similar but not identical, which allows for a degree of market power and product differentiation.