Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Auto Insurance
Suppose that every driver faces a 1% probability of an automobile accident every year. An accident will, on average, cost each driver $10,000. Suppose there are two types of individuals: those with $60,000 in the bank and those with $5,000 in the bank. Assume that individuals with $5,000 in the bank declare bankruptcy if they get in an accident. In bankruptcy, creditors receive only what individuals have in the bank. What is the actuarially fair price of insurance? What price are individuals with $5,000 in the bank willing to pay for the insurance? Will those with $5,000 in the bank voluntarily purchase insurance? What is the effect of state laws forcing individuals to purchase auto liability insurance?
Milton Friedman expresses ambivalence toward such supply-side economics. What lessons did you learn?
Describe two reasons why education growth may not translate to increases in GDP for a country.
Analyze the determinants of the price elasticity of demand and determine if each of the following products are elastic or inelastic:
Explain why globalization is good for the United States. What are the drawbacks of globalization for our economy? We run huge trade imbalances with two countries. Explain the cause of the imbalances. What is the economist's case for free trade?
(A) An 8x8 chessboard has had two of its diagonally opposite squares removed, leaving it with sixty-two squares.
Sketch a representative isocost line, labeling the intercepts. What is the slope of the line?
Now suppose the world relative price of cars is PC /PTV = 1. In what good will each country specialize? Briefly explain why.
Elucidate a personal daily struggle that is an example of the law of noncontradiction and the challenges posed to your beliefs and decisions.
On a single graph draw marginal cost curve, average total cost curve and average variable cost curve for a typical firm. Explain how area that represents profit or loss this firm will earn.
Elucidate why would a system of marketable pollution permits leads to less costly pollution abatement and a higher concentration of polluted areas than a command-and-control system.
Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, total revenue will be
Where L represents labor hours, K machine hours and q the amount of output. The market wage and rental rates are, w= $25 and r = $100.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd