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When a Tortfeasor Fails to Meet a Standard of Reasonable

question 57

Multiple Choice

When a tortfeasor fails to meet a standard of reasonable care appropriate for the circumstances and another is forseeably subjected to an unreasonable risk of harm and is injured as a result, the tortfeasor can be sued by the injured party for _____.


Definitions:

Average Product

The output per unit of a particular input, such as labor or capital.

Substitution Effect

The change in consumption patterns due to a change in relative prices, leading consumers to substitute one good for another.

Wage Increase

An upward adjustment in the salary or earnings paid to an employee.

Utility Maximizing

Acting in a way to achieve the highest level of satisfaction possible with available resources.

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