When Considering the Risk-Utility Balance, Courts Consider

question 323

Multiple Choice

When considering the risk-utility balance, courts consider:

• A) the extent of the manufacturer's investment in making a safe product
• B) the profit of the manufacturers against the rate of consumer injury
• C) the safety standards within the manufacturing plant
• D) the level of consumer education needed to safely use the product
• E) none of the other choices are correct

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Definitions:

Highest Valued Uses

The application of resources or efforts in the manner that yields the greatest benefit or utility.

Increased Demand

Refers to a situation where there's a higher desire or need for a particular product or service, often leading to higher prices if supply does not match the surge.

Price Ceiling

A legally established maximum price that can be charged for a good or service.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to buy at a specific price.