Under the Rule of ____, the Producer of a Defective

question 200

Multiple Choice

Under the rule of ____, the producer of a defective product that caused injury to a consumer was not liable unless there was a contractual relationship between producer and injured party.

• A) res ipsa loquitur
• B) stare decisis
• C) caveat emptor
• D) proximate cause
• E) none of the other choices

---

Definitions:

Midpoint Formula

A method for calculating the elasticity of demand or supply by using the average percentage change in both quantity and price.

Price Elasticity

This measures how sensitive the quantity demanded of a good or service is to a change in its price.

Midpoint Formula

A mathematical formula used to calculate the average or midpoint between two values.

Elastic Portion

A range in the demand or supply curve where a small change in price leads to a large change in the quantity demanded or supplied.