Which of the Following Statements Is False

question 2

Multiple Choice

Which of the following statements is false?

• A) The motor truck cargo insurance protects the interest of the trucking companies.
• B) Federal law requires trucks traveling across state lines to have at least $1.5 million in liability insurance.
• C) The peril causing the largest amount of inland marine losses is theft.
• D) Inland marine insurance developed because commerce in the U.S. moved inland.

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Definitions:

Cost Plus Pricing

A pricing strategy where the selling price is determined by adding a specific markup to a product's unit cost.

Monopolist

An entity that has exclusive control over the supply of a particular product or service, and thus the power to influence the market price.

Marginal Revenue

The supplementary income earned from the sale of one extra unit of a good or service.

Pink Flamingo

a brightly colored bird known for its long legs and neck, often associated with decorative lawn ornaments in popular culture.