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A delivery van can be insured for a net annual premium of £861.64.
The net premium may be paid in 52 equal weekly installments, but then a charge of £1.10 is added to each installment.
(a) Calculate the amount of each installment.
(b) Calculate the annual cost of the extra charge and express it as a percentage of the net annual premium.
The van owner receives a no claims discount of 45% of the gross annual premium.
(c) Calculate the gross annual premium.
The van owner finds an Irish insurer who offers to insure the van for a weekly installment of €23.
(d) Given an exchange rate of €1.35 = £1, convert this installment into pounds, and advise the van owner.
If 85 million adults are not working what is the unemployment rate?
Assume the graph below represents the market demand for a patented prescription drug together with the marginal cost and average cost functions for producing the drug. Draw the marginal revenue function for this firm.
Use the long-run model from Chapter 3 the answer this question. Suppose there is a permanent increase raises the labor force (L).
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