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Consider a household that possesses $100,000 worth of values (computers, electronics, jewelry, etc). This household faces a 0.10 probability of a burglary. If a burglary were to occur, the household would have to spend $20,000 to replace the stolen items. Suppose it can buy an insurance policy for $500 that would fully reimburse it for the amount of the loss.
a) Should the household buy this insurance policy? Explain briefly.
b) Should it buy the insurance policy if it costs $1,500? $3,000? Explain briefly.
c) What is the most the household is willing to pay for this insurance policy?
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
Economic incentives were at heart of westward expansion across North America in late 18th centuries, so let us apply some economic analysis to the condition.
Discuss the current monopoly to provide a brief overview of the company. How did the monopoly arise? Did the monopoly increase barriers to entry? Does the company behave like a monopoly or more like a competitive firm?
Choose an article in a newspaper or magazine that discusses a United States government policy on goods or services.
Assume that you get a summer intern job and a recession start while you are there. Prepare a memo to your boss, who is a member of Congress,
Examine the basis for the trends in consumption patterns, as discussed in any article and explain what has occurred to change the demand for, or the supply of, the products, and market prices of those products.
How has Walmart impacted vertical coordination? Your opinion does not need to be based upon the article and how has Walmart impacted performance of the US economy
Assume that total output is determined by the formula: number of workers × productivity = total output (output per worker) If an economy's productivity increases by 5 percent but the number of workers declines by 3 percent a year, how will the out..
State the commodity in which each country has absolute advantage amd identify the commodity of comparative advantage for each country
Do you think that nearshoring or outsourcing will continue for U.S. companies? B. Identify a legal job that you would not accept on moral grounds? C. Identify a U.S. company that operates in a foreign country whose assets were confiscated. Explain..
If the economy is at point C, what is the cost of one more automobile? One more rocket? Explain how the production possibilities curve reflects the law of increasing opportunities costs
In the 1960s and 1970s, research funding by the U.S. government and some universities led to revolutionary advances in network computing. These advances in communication and network technology remained largely isolated to governmental and academic..
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