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1. Best Buy offers a protection plan for new smartphones at $132. The absolutely most expensive iPhone you can buy right now is $700. Assume for a moment you are a very cautious but forgetful person: you would never, ever drop or damage your phone, but you might lose it. How likely must you be to lose your phone for $132 to be an actuarially fair price for mobile phone insurance? [Hint: you're solving for p, the probability of losing your phone. Not losing your phone, therefore, happens 1-p percent of the time.]
2. If your demand for some good x is X=0.3 I/Px
a) is X a normal or inferior good? Show me how you know.
b) is good Y a substitute or complement for good X? Again, show me how you know.
Regulation of monopolies-A monopolist hospital faces the following demand curve for diabetes screening: Pd=100-2Qd where Pd is price of delivery and Qd is the demand for delivery in a hospital. The hospital’s is MC=Q for deliveries and the fixed cost..
Describe three problems of decentralization that occurred under the Articles of Confederation. For each problem you list, identify one solution that the Constitution provides to address the problem.
Thriving service industry that contributes to 70% of the GDP of Singapore. It best utilizes the pro-business environmental policy of the government that encourages investment in different sectors with attractive incentives. Location advantage. Singap..
Preventive care is not always cost-effective. Suppose that it costs $50 per person to administer a screening exam for a particular disease. Also suppose that if the screening exam finds the disease, the early detection given by the exam will avert $5..
If the variable is almost normally distributed does that mean you use common distribution.
Suppose that four 85-octane gasoline pumps and three 89-octane gasoline pumps provide as much profit at a local convinience store in five days as three 85-octane pumps and five 89-octane pumps provide in four days. Which gasoline pump produces greate..
The NCAA has often been called an “incidental cartel. ”What is an “incidental cartel?”How has the NCAA exercised its cartel power? Give two distinct examples.
An engineer must recommend one of two machines for integration into an upgraded manufacturing line. She obtains estimates from two salespeople. Salesman A gives her the estimates in future (then-current) dollars, while saleswoman B provides the estim..
Which of the following groups are likely to have the highest tax elasticity of labor supply: a) college students, b) single parents, c) primary earners in two-parent families, d) secondary earners in two-parent families, or e) retired people with ave..
The blue line circle symbols is a demand-for-money line and the orange line square symbols is a money supply line.
q.suppose that the inverse demand curve for paper is p 200 - q. the private marginal cost is mcp 80 q and the
Which of the following statutes is not related to healthcare fraud? Mocan and Gittings argue that
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