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Your neighbor Sam told you that he buys insurance from your best friend Jack who is an appointed agent of his insurer, the ABC insurance company. Because of his relationship with Jack he is not worried that he will put ABC interests above his and he believes that Jack's loyalty to him will be much greater than that to the insurance company. On the other hand, he knows that Jack is a bit forgetful and he worry that Jack may not get all the information Sam gives him to ABC. He is concerned that this may lead to a problem if he ever has a loss as the insurer could deny coverage on the grounds that they didnt know certain crucial facts. What would you advise Sam?
You are the manager of a monopoly, and your demand and cost functions are given by P = 300 - 3Q and C(Q) = 1,500 + 2Q2, respectively. a. What price-quantity combination maximizes your firm's profits? b. Calculate the maximum profits. c. Is demand e..
Your hospital is considering opening a satellite urgent care center about five miles from your main campus. You have been charged with gathering demographic information that might affect the demand for the center's services. What data are likely t..
social problem where free marketplace are not allowed to function and describe how free market features could be introduced to help alleviate the problem.
Economists are often criticized for making assumptions. Explain why are assumptions necessary? To think about this, you might consider an assumption that is often made,
1. What has been the role of the Commonwealth Constitution in setting the framework for regulation of transport and communications?
1. Explain why the real exchange rate never changes under the theory of purchasing power parity? 2. What governs the behavior of nominal exchange rates under PPP?
Assuming the phone company has to charge the same monthly rental fee and unit price to all its customers, at what level should it set these charges?
The United Kingdom has since replaced the original Statute of Frauds, but written contracts are still required for various circumstances such as land through which law?
The Saudi government's long-awaited decision of imposing fees on undeveloped plots within cities, known as ‘white land - Discuss your thought in detail, and make it rich with information and arguments.
The daily demand for pizzas is Qd = 750 − 25P , where P is the price of a pizza. The daily costs for a pizza company include $50 in fixed costs, and variable costs equal to V C(Q) = Q2/2, where Q is the number of pizzas produced in a day.
Provide high domestic interest rates, what is the economic outlook for these Asian countries in the next few years.
Fed Chairman Ben Bernanke finally confess that the Fed has been printing more new currency over last some months to help stimulate the economy and more recently noted economy may not yet be out of woods,
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