You've just acquired a sweet new ride and are trying to determine how to protect your wheels from theft. You're consideringpurchasing the Club, a large steel bar that locks to your steering wheel and prevents car thieves from easily driving away.Alternatively, you're considering installing Lolack, a hidden electronic device that allows law enforcement agencies to locateyour car should you notify them of its theft.a. Why is the Club more likely than LoJack to directly deter thefts?The external benefits of the Club exceed those of Lolack.O Lolack is a visible deterrent, whereas the Club is invisible to car thieves.O The Club is a visible deterrent, whereas Lolack is invisible to car thieves.O Thieves are more responsive to traditional theft deterrents, such as locks, than modern ones that involve digitaltechnology.b. LoJack customers must agree not to display any window stickers or other signs that indicate their cars are LoJack-equipped. This agreement enhances LoJack's value as a general deterrent, sincec. While car drivers are probably buying the socially optimal quantity of the Club, too few drivers are probably installingLolack, sincethe government subsidizes purchases of the Club but not Lolack.

Theft is a kind of crime that is committed by stealing things. It is a punishable offense. People…

Answered: You've just acquired a sweet new ride…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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You are the engineer responsible for approving the safety of any design changes in new automobiles at your car company. The designers have come up with a simpler and much cheaper bracket for attaching the gas tank to the rear axle and bumper on a new model – but tests have shown this is more vulnerable to rear-end collisions than previous designs (hence, more potential deaths or injuries in accidents). However, the new bracket is legal by current government standards, and no more unsafe the designs competitors are planning to use. Further, company accountants estimate that potential lawsuit costs (from accident victims) for the new design would be much less that the cost of continuing to use the older, more expensive bracket design. What is your best course of action? O A. Tell your bosses about the increased safety risks of the new design, but let them decide whether or not to cancel or improve it. OB. Do not approve the new design under any conditions, even if it costs you your job,…
Imagine the following scenario. At home, your friend Mary packed an orange into your bag for lunch. On her way to school, she decided to go into a convenience store to buy some stationeries. At the checkout counter, she opened her bag to take her wallet to pay for the purchase. The cashier saw the orange in her bag, which happened to be the same kind of orange sold at the store. What would the cashier be thinking? Will he conclude that she has stolen the orange from his store? The convenient store does not have any CCTV, and she were the only customer at this moment. So how could she prove that she did not steal the orange? Based on what you have learned from the past 3 lessons regarding blockchain, suggest a way that you can help Mary to prove that she did not steal the orange. You are free to make certain assumptions. ▪ Introduce blockchain to your friend Mary in your own words. How can blockchain be used to solve the problem? What are the benefits offered by the blockchain as…
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Scenario Wanda is horrified when she sees a news report that some dog treats have been recalled because they have caused some dogs to get sick and even die. Wanda is very careful about her ingredients and uses only chicken, lamb, and bison that come from sustainable farms. Still, these headlines make her nervous. What if her dog treats make someone's dog sick? What if a batch of her Chicken Cuties is somehow contaminated and a dog dies from eating them? For Discussion Wanda comes to you for advice, not as an attorney, but as someone who knows about the legal environment in business regarding her potential liability. • What kind of legal exposure does Wanda have, and how can she protect herself against lawsuits? • How much responsibility do you believe companies should have for the safety of their products?
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