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An insurance agency sells auto and home insurance policies and has 1000 clients. The data below show the distribution of the clients. 300 clients purchase only auto insurance policies 500 clients purchase both, auto AND home insurance policies 200 clients purchase only home insurance policies.
What is the probability that a randomly selected client purchases ONLY home insurance from this agency?
The local government does not directly charge their residents for collecting garbage. However, the city faces increasing marginal costs of MC=1+0.6Q per ton. Residents' market benefit for garbage is MB=250-2.2Q per ton. How much garbage will resident..
Biff owns and operates a golf driving range on land that he also owns. Last year his accountant calculated that his driving range makes $50,000 profits per year. Last year a property management company offered to lease Biff’s land from him for $80,00..
Sam’s utility function is U(x1, x2) = 2x1 + x2, where x1 is the number of units of good 1 he consumes per week and x2 is the number of units of good 2 he consumes per week. Sam has $200 a week to spend.If he belonged to the club, he could buy good 2 ..
Why do you think that approximately one-sixth of the world's population has not experienced much substantive economic growth over the past 30 years?
How could a company go about meeting those needs and thus motivate you to work better and harder.
Illustrate what is the GDP of George's also John's island in terms of clamshells.
The market supply and demand functions for a product traded on a perfectly competitive market are given below: Based on this information, calculate the equilibrium price and quantity in this market.
The time it takes to process phone orders in a small gift shop is normally distributed with a mean of 6 minutes and a standard deviation of 1.24 minutes. what cutoff values would separate the 95% of orders that are in the middle of the distribution w..
Government policy has typically been driven by political ideology. Radical writers argue that the MNE is an instrument of imperialist domination, but the free market view argues that international production should be distributed among countries acco..
Suppose that the quantity of good y is measured along the vertical axis and that the quantity of good x is measured along the horizontal axis. Assume that the price of good x is $5 and the price of good y is $10 when income is $200 per time period, p..
We learn from Gorton that it is not possible to prove that had Lehman Brothers been bailed out by the government or the Federal Reserve the financial crisis of 2008 would not have occurred. This is an example of not being able to prove the “counterfa..
What is the function, as well as what are the main ingredients as well as connections within the policy planning network doing off describes.
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