Explain What a Manufacturer of Products Under Contract to the Government

question 12

Essay

Explain what a manufacturer of products under contract to the government must show in order to avoid product liability based on the government-contractor defense along with the rationale for the government-contractor defense.

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Definitions:

High Price

The characteristic of goods or services being offered at a cost considered above the average or expected market value.

Nash Equilibrium

A concept in game theory where no participant can gain by unilaterally changing their strategy if the strategies of others remain unchanged.

Advertising Strategy

The plan and tactics a business uses to communicate with its market, promote its products or services, and attract customers.

Prisoners Dilemma

A situation modeled in game theory in which two individuals acting in their own self-interest do not produce the optimal outcome for either party.