Final answer:
The Magnuson-Moss Warranty Act is a federal law that relates to warranties on consumer products. It ensures manufacturers provide detailed warranty information, but the specific cost threshold needing coverage is not provided in the question and varies by application.
Step-by-step explanation:
The Magnuson-Moss Warranty Act is a federal law administered by the Federal Trade Commission. It applies to all product warranties on consumer products, yet the specific cost threshold isn't mentioned in the question. However, to best address the intent of the question, typically warranties require a product to cost a certain amount before mandating full coverage. This Act was created to protect consumers from deceptive warranty practices. The Act requires manufacturers and sellers to provide detailed information about warranty coverage. In practice, this means that both the manufacturer and the consumer have clear expectations regarding a product's warranty.
For instance, if we consider a hypothetical scenario where the Act only applies to consumer products costing more than $1,700, then 90 percent of crash-tested cars having damage repair costs of $1,700 or less would not be mandated to be fully covered under the Magnuson-Moss Warranty Act. The manufacturers and consumers would potentially have to navigate different warranty terms and care for repair costs below this threshold. The remaining 10 percent of cars with repair costs above $1,700 would be the ones affected by the full protections of the Magnuson-Moss Warranty Act.