What are liability rules? What will be an ideal ...

[pepyto]

What are liability rules?
 
  What will be an ideal response?

Question 2

Read Eye on the Benefit and Cost of School on p. 15 and explain why both you and Clayton Kershaw made the right decision.
 
  What will be an ideal response?

[zogaridan]

Answer to Question 1

Liability rules are laws that require A to compensate B for damages imposed.

Answer to Question 2

Clayton Kershaw made the correct decision to skip college because the opportunity cost to him of attending college (which includes his forgone salary playing baseball) vastly exceeded the benefits to him of at-tending college. For most students, the opportunity cost of attending college is not so large, so for most students the benefits from attending college exceed the opportunity cost of attendance. For these students, attending college is the correct decision.