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John has his wealth of €1000 invested in ripoff.com shares. There is a 50% chance that the share market crashes and his shares will be worth nothing. There is a 50% chance his shares will remain worth €1000. John has the opportunity to insure a fraction a of the €1000. The insurance premium is 600a. Suppose John has a utility function U(y)= y 0.5 where y is wealth. If John maximises expected utility, what value of a will he choose?
If there is no insurance market but John has the opportunity to sell a fraction ß of the ripoff shares and can invest the proceeds in shares in the oil company blackgold. If the technology share market crashes, he loses all his ripoff.com investment but only 25% of his investment in the company blackgold. If the technology share market does not crash, he keeps all his investment in ripoff but loses 75% of his investment in the other company blackgold. As in part A there is a 50% chance the share market crashes. If John maximises expected utility, what value of ß should he choose?
In 2005, APEX received a tax credit for production of its solar panels through the US Department of Energy's Energy Efficiency and Renewable Energy procurement plan.
The box industry was perfectly competitive. The lowest point on long run average cost curve of each of identical box producers was dollar four, and this minimum point occurred at an output of 1,000 boxes every month.
Suppose you are the Chief Economist of Antitrust Division of the Department of Justice. There is a single manufacturer of streaming video services that has a patent on technology so that no one else can give the service.
As a result of increased tensions in the Middle East, oil production is down by 1.2 million barrels per day-a 5 percent reduction in the world's supply of crude oil.
Discuss how Internet security measures can actually create opportunities for criminals to steal, rather than prevent them.
European markets for DVDs There are several markets in which a "hardware-software" linkage is important. This difficulty examines supply and demand forces for an emerging market,
Create and explain a production possibilities frontier for an economy that produces milk and cookies. Determine what happens to this frontier if disease kills half of the economy's cow population?
You're a manager at the Chevrolet division of General Motors. If your marketing department estimates that the semiannual demand for the Chevy Tahoe is Q = 100,000 - 1.25P
A firm has a cost function given by the following: Find the firm's production function, y= f(x1, x2).
Graph and describe what effects would be short run production function if a new advanced process was found and how would the number of employees hired change?
Discuss why a monopolist should lower its quantity relative to the perfectly competitive market to maximize profits. Make sure to elaborate employ examples.
The marginal and average cost curves of taxis in metropolis are constant at $.20/mile. The demand curve for taxi trips in metropolis is given by P = 1 - .00001q, where P is the fare, in dollars per mile, and Q is measured in miles per year.
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