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In-s [12.5K]
3 years ago
9

Modern Railways Co. operates a cargo railroad service between New York and Boston. A train owned by Modern Railways derails due

to a rare maintenance problem and collides with a delivery truck owned by CraftCo, shattering $100,000 worth of porcelain inside. If CraftCo sues Modern Railways Co. for negligence, CraftCo may be able to recover:
a. punitive damages.
b. special damages.
c. general damages.
d. singular damages.
Business
1 answer:
Fittoniya [83]3 years ago
3 0

Answer:

b. Special damages

Explanation:

Damages are remedies paid to claimants or plaintiffs as compensation for loss or injury caused by the defendant.

Special damages compensate the claimant for quantifiable monetary losses which can be either direct losses or consequential damages. For example the cost of replacement of damaged property is categorized as a direct loss and lost earnings relates to consequential damages.

The $100,000 worth of porcelain that was damaged is a direct loss which may be recovered by CraftCo under special damages.

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Why is there scarcity even in an affluent country like the united states?.
Law Incorporation [45]

Answer:

THERE ARE SCARCITY EVEN IN AN AFFLUENT COUNTRY LIKE THE UNITED STATES BECAUSE WANTS ARE LIMITED BUT NEEDS ARE UNLIMITED. SOME PEOPLE ARE POOR WHILE OTHERS ARE WEALTHY

7 0
2 years ago
Adam borrowed money to buy a new car. The bank now has a lien on the car. What could happen if Adam doesn't make his payments on
larisa [96]
The correct answer is A The bank could sell the car.
The bank could take back the car and sell it to recover its money.

6 0
3 years ago
Read 2 more answers
The concept of economic profit is used for making a decision between your two _______ options. Earning zero economic profit is n
tigry1 [53]

Answer:

The concept of economic profit ....... <u>alternative</u> two options.

If economic profit is positive .......... <u>Current </u>option.

If economic profit is negative............ <u>Other </u> option

Explanation:

Economic Profit is the excess of revenue associated with an option, over its costs (explicit external & implicit opportunity costs).

Example : Revenue - Direct explicit cost of production - opportunity cost (like interest on money invested, salary of job left foregone).

The concept is used to make decision between two<u> alternative</u> options. Given, zero economic profits imply indifference.

Positive Economic Profit implies - one should choose<u> Current </u>option, as it will make <u>Better off </u>, having more benefit than other option

Negative Economic Profit implies - one should choose <u>Other </u> option, as it wil make better off, having more benefit than the former considered option.

8 0
3 years ago
The owner of a bicycle repair shop forecasts revenues of $212,000 a year. Variable costs will be $63,000, and rental costs for t
Nataly [62]

Answer:

Sales Revenue            212,000

Variable Cost               (63,000)

Rent Expense               (43,000)

Depreciation Expense (23,000)

Income before taxes     83,000

Income tax expense <u>    (16,600)   </u>

Net Income                    84,800

Cash from operating activities 107,800

tax-shield from depreciation 4,600

Explanation:

Cash flow from operations (indirect method)

net income 84,800 + depreciation expense = 107,800

The depreciation provides a tax shield as they are an accounting concept. The depreciation expense did not involve the outflow of cash but, it is a taxable deduction therefore generates a tax-shield.

23,000 x 20% = 4,600

7 0
3 years ago
In order to have competition in a market economy, there must be at least _____ or more sellers acting independently in a particu
NISA [10]

In order to have competition in a market economy, there must be at least 2 or more sellers acting independently in a particular market.

<h3>What is competition in a market economy?</h3>

competition in a market economy serves as one that  allows multiple individuals  as well as  businesses to use resources efficiently  as well as producing  the cheapest products  without compromising  quality.

It should be noted that In order to have competition in a market economy, there must be at least 2 or more sellers acting independently in a particular market.

Learn more about competition at:

brainly.com/question/9698922

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8 0
1 year ago
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