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No-state insurance Company has made the following estimate of auto damage for several groups of potential customers who own cars worth $10,000. there are an equal number of customers in each group. No-state is risk-neutral.
Group A, B, C Initial Value of Car: $10,000, $10,000, $10,000 Probability of Accident that devalues car to $5,000: .2, .3, .4
State regulation mandates that every customer must pay the same premium regardless of his or her group, and this premium must be sufficient to cover al expected claims from those who purchase insurance from No-state. There are no additional costs to the company other than paying off claims. All consumers have the following utility function (U) U= W^.05 W is the consumer's wealth as represented by the value of the car. What premium should No-State offer for full-coverage insurance?
Other things remaining the same, what would happen to the supply of a particular commodity if the following changes occur?
Write a four- to five-page paper that answers the following questions. List six main objectives of public relations efforts. Using a company that sells a product you purchase or provides a service you use, explain how it could try to achieve each of ..
Consider a Cournot duopoly with the inverse demand p = 130 ? Q. Both firms have constant marginal and average cost MC = AC = 10. Find the Cournot-Nash equilibrium output and profit of each firm. Calculate the consumer surplus and DWL. Find the Bertra..
Chelsey is a mother of two and buys her kids\' favorite, Kraft Macaroni and Cheese, when the price of Kraft is the same as the price of the store brand stuff. But when there is any price difference, she buys the cheaper product. Cap City Metro decide..
According to national income accounts, investment always equals savings in a closed economy. only in equlibrium would savings be equal to investment. hence, we are always in equlibrium. true or false.
how this arrangement with Delta and United could have caused the value of SkyWest to increase so dramatically even though it limited the amount of profit the company could earn.
illustrate what is the largest cardholder fee that Tuan will pay. the long run a perfectly competitive firm experiences economic profit and new firms will enter the market.
What effects would each of the following have on aggregate demand or aggregate supply, other things equal? In each case use a diagram to show the expected effects on the equilibrium price level and the level of real output, assuming that the price le..
Use the market relates to vertically integrate as:
Demand curve facing a firm in a perfectly competitive market each firm is so small and re are so many firms that none can affect price.
Assignment Question: GDP- Discuss China's GDP last 2 to 5 years and factors affecting their GDP.
In a market for car insurance, which of the following are examples of statistical discrimination?
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