Specialty Producers is involved in two product liability lawsuits and a third lawsuit that the company brought against a competitor for patent infringement. At December 31, 20X1, the company's attorney informed management of the following: 1. It is probable that Specialty will lose one of the product liability lawsuits, although the actual settlement could be as low as $800,000 or as high as $2,000,000, with no one estimate more likely than the other within this range. 2. It is possible that the company could lose $1,000,000 in the second product liability lawsuit. 3. It is probable that Specialty will win $500,000 in the patent infringement case. What should Specialty report on its December 31, 20X1 balance sheet for these contingent liabilities

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency,government intervention can improve overall welfare o markets allocate goodseffectively