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Q. Could you look up Explain how insurance companies calculate their insurance premiums? So for instance, in a group of 1000 people if half of a population has a 1% of incurring a $500 in medical costs also 99% of being healthy also if the other half of the population has a 10% chance of incurring $500 in medical costs also 90% being healthy. Illustrate what is the expected loss for a healthy individual? Also illustrate what about the sick-type person? Also if a competitive insurance organization Supposes which its customers are composed of equal numbers of sick also healthy individuals Illustrate what would be the insurance premium? Or in other words illustrate what is the expected cost of medical expenses to this population?
Outline any two reasons, why the marginal revenue product differs between workers in different jobs.
movements along the consumption function while changes in wealth lead to a shift of the consumption function.
Differentiate the equilibria of model. Also the classification should be a function of the bliss point of the candidates.
A competitive firm that is profit maximizing pays a wage. The firm has started marketing its new product.
Suppose nominal GDP in 1999 was $100 billion also in 2001 it was $260 billion. Illustrate what is the own-price elasticity of demand.
The developing country uses the $100 bank balance to import $100 worth of food from the United States (US).
If the government raises your marginal income tax rates and uses the money in a way that does not affect you in any way.
decides not to play by the rules of the game. Then illustrate what could the final equilibrium position be.
If Live Theaters charges one price to all patrons, what would it be. Illustrate how many customers would it serve.
How big would that budget have to be before he would spend a dollar buying a first cup of coffee.
Describe the international monetary system known as the Bretton Woods system, or the gold exchange standard that existed from the mid 1940s to the early 1970s.
Describe the changes in the model parameter(s) and resulting changes if any in the hiring decisions of the three types of firms.
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