Which of the Following Could Have Caused the Price of Gasoline

question 138

Multiple Choice

Which of the following could have caused the price of gasoline to reach nearly $6 per gallon in some parts of the South on Labor Day weekend,2007?

• A)The greed of the sellers.
• B)The temporary shutdown of offshore oil wells due to Hurricane Katrina.
• C)The temporary shutdown of some of the oil refineries due to Hurricane Katrina.
• D)All of these choices are correct.

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Definitions:

Assumption of the Risk

A defense in tort law where the plaintiff is considered to have voluntarily assumed the risks of a known hazard, diminishing the defendant's liability.

Contributory Negligence

A defense to negligence whereby the defendant can escape all liability by proving that the plaintiff failed to act in a way that would have protected him or her from an unreasonable risk of harm and that the plaintiff’s negligent behavior contributed in some way to the plaintiff’s accident.

Defendants Liability

The legal obligation of a defendant in a lawsuit to compensate for harm caused to the plaintiff as determined by a court judgment or settlement.

Punitive Damages

Financial compensation awarded to a plaintiff that goes beyond what is necessary to compensate for losses and is intended to punish the defendant.