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d. "Other things being equal, one should prefer to purchase insurance from the largest insurance company possible." On what basis does the author of this

d. "Other things being equal, one should prefer to purchase insurance from the largest insurance company possible." On what basis does the author of this

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Please, I need solution to Q1.d(the last question)

a. Many strikes in the Ghana bring financial suffering to employers and workers. Would you expect a commercial insurer to provide insurance protection to the workers or the employers to cover losses resulting from these strikes? Why or why not? b. Suppose that the members of your class enter into an agreement under whose terms all would chip in to pay for the damage to any automobile owned by a class member that was damaged in a collision. Explain whether this is insurance and whether you would be willing to participate. c. A friend tells you about a plan for the formation of an insurance company that will issue insurance policies to protect a person who buys stock against a decline in the value of that stock. Explain why you believe the scheme will or will not work. d. "Other things being equal, one should prefer to purchase insurance from the largest insurance company possible." On what basis does the author of this statement probably draw this conclusion?
Transcribed Image Text:a. Many strikes in the Ghana bring financial suffering to employers and workers. Would you expect a commercial insurer to provide insurance protection to the workers or the employers to cover losses resulting from these strikes? Why or why not? b. Suppose that the members of your class enter into an agreement under whose terms all would chip in to pay for the damage to any automobile owned by a class member that was damaged in a collision. Explain whether this is insurance and whether you would be willing to participate. c. A friend tells you about a plan for the formation of an insurance company that will issue insurance policies to protect a person who buys stock against a decline in the value of that stock. Explain why you believe the scheme will or will not work. d. "Other things being equal, one should prefer to purchase insurance from the largest insurance company possible." On what basis does the author of this statement probably draw this conclusion?
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