In 1994, Congress passed legislation exempting aircraft from product liability claims in court if they were older

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In 1994, Congress passed legislation exempting aircraft from product liability claims in court if they were older than 18 years and had fewer than 20 seats. The probability that such aircraft would be involved in an accident declined in the wake of the passage of the legislation. Given what you have learned in this chapter, explain why.

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Microeconomics Theory and Applications

ISBN: 978-1118758878

12th edition

Authors: Edgar K. Browning, Mark A. Zupan

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