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Assume that you are not required by law to buy car insurance. Then, buying car insurance is a purely economic decision. Also, you need to consider the time value of money in this problem, MARR is 10%. You are considering buying car insurance for the coming two years. Whether or not you buy insurance, you have the following probability distribution over the car accident damages for each year (the probability of having an accident is independent across years). with 90% chance you will have no accident, with 7% chance you will have a small accident with $300 worth of damage due at the end of the year, with 3% chance, you will have a big accident with $13,000 worth of damage due at the end of the year. The terms of the insurance: You are covered for the coming two years. Your deductible is $500. Your premiums are due at the beginning of each year (first one is $400 and due now!). Your premium goes up by $50 or $150 if you have a small or big accident respectively. It stays the same if you have no accident. Draw the decision tree that corresponds to the above problem and determine if you should buy insurance or not? (Base your decision solely on the expected values.)
No less than 1000 words (excluding the title page, bibliography and appendices). Question 1. A Study into the Key Principles of Economics.
Two fi?rms compete in a duopoly market. Each fi?rm chooses a quantity and the price in the market is determined from the following inverse demand function.
How many units of good X will be purchased when Px=4910, determine the inverse demand function for good x.
what happened to the overall price level. Explain how might you construct a measure of the change in the price level.
If other people exploit the same opportunity, what will happen to the cost in Thailand as well as in Malaysia.
Illustrate the effect of capital formatin by comparing the production possibility curves, at the present time and ten years in the future, for two economies, one with a high and the other with a low rate of capital formation.
Illustrate the effect of increasing Government spending on all the macro-economic variables assuming a horizontal AS curve.
When politicians using polling data emphasize issues to polls have given more importance than necessary they have fallen
ALL colleges of business today also was 1st proposed as a factor of production by a classical economist less than 40 years after Adam Smith.
A 15 year bond having a face value of $5000 and a coupon rate of 6 percent per 6 months payable semiannually was purchased for $7000 8 years ago, and the 16th interest payment was just made. What can it be sold for now if a buyer's desired return..
Illustrate what is the basic objective of monetary policy. What are the major strengths of monetary policy.
Suppose the US government places a ceiling on the price of internet access also a black market for Internet providers arises, with internet providers developing hidden connections.
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