Robert decides to start working for the local ridesharing company. He has a large 12-passenger van and thinks he will be in big demand at the airport. He tells his personal car insurance company that he is driving for a ridesharing company, and he needs some additional insurance. He is denied additional coverage. Why? There is no such thing as ridesharing insurance. He lives in a state that doesn’t offer ridesharing insurance. The city he lives in is too small for him to qualify for ridesharing insurance. Many insurance companies will not insure high-occupancy vehicles under their ridesharing policies.

Q: John owns and runs a food truck, which is a 20% chance that his truck will be firebombed by one of…

A: The given probability that damage will occur, P = 20% = 0.20 Probability of no damage = 1 - P =>…

Q: A friend of yours mentions to you that his PIBP for a shirt is a range of $40-$50. What argumen can…

A: This answer is as follow

Q: After graduation, you face a choice. You can work for a multinational consulting firm and earn a…

A: Accounting Profit = Total Revenue - Explicit cost = 90000 -15000 -1500 - 22000 -4600 = 46900

Q: Arnie has a job that requires him to travel three out of every four weeks. He has an annual travel…

A: A budget constraint represents all the combinations of goods and services that a consumer may…

Q: The Hernandez family is experiencing some financial pressures, even though the couple has a combined…

A: An emergency fund is a sum of money set aside by an individual or household to cover unexpected…

Q: Misty is single and has chosen Plan Q. Misty has not used her health insurance yet this year.…

A: Below is the given information: The portion of the bill = $5000

Q: If you rent a car, you can (1) return it with a full gas tank, (2) return it without filling it and…

A: Essential vehicle administrations, for example, oil changes, transmission flushes and tire…

Q: How is a pure premium calculated?

A: To determine how the pure premium is calculated.

Q: In markets for information, which party generally has more knowledge about the value of the…

A: In the market for information, people gets information about goods and services by sellers and…

Q: You have a prescription drug insurance plan with a $500 deductible, 25% coinsurance after the…

A: Deductible=$500 Coinsuarance=25% Out of pocket maximum= $1250 total bill=$2075

Q: You are in the market for a used 2006 Honda Accord. You know that half of the 2006 Accords are…

A: Externality:It is an economic problem when people take benefit from the economic goods. It is…

Q: The difference in monthly payments between the two offers is $

A: A down payment is a sum that a buyer pays upfront when purchasing an item such as a home or car.

Q: The fact that you can use money to compare the value of one good to another is a result of which…

A: Money:Monеy sеrvеs as a mеasurе of valuе bеcausе it providеs a common unit of account. Monеy does…

Q: 20-1 Your product fail about 2% of the time, on average. Some customers purchase the extended…

A: Adverse selection occurs when there's a lack of symmetric information before a deal between a buyer…

Q: In Hayward, there are 100 people who want to sell their used cars. The problem is that nobody except…

A: The objective of the question is to find the minimum probability for a used car to be a peach such…

Q: Which of the following is a method used by a private seller to help reduce imperfect information…

A: Answer: Imperfect information refers to the situation where either buyer or seller has less…

Q: How can you help make information more pertinent to your audience and increase your chances of…

A: The communications landscape changes rapidly over time, but one criterion for successful…

Q: What does it mean to be Risk Averse?

A: The risk refers to outcomes that are uncertain.  The outcome of the decision is not certain and…

Q: In what way has the consumer mindset changed in the past few years? Consumers are spending less time…

A: A person who buys and uses a product for consumption is referred to as consumer. The consumer's…

Q: Draw the market for risk, where consumers of insurance supply risk and insurance companies demand…

A: Demand: It refers to the goods and services that individuals prefer to buy in the market. The…

Q: insurance is pure liability coverage over and above the coverage provided by other types of…

A: We have to find given question answer.

Q: Pick a good and explain how asymmetric or imperfect information could impact the price and…

A: Asymmetric information: The situation where the buyers and sellers of a product do not possess…

Q: J is insured in an accident on K premises. K has a commercial general liability policy with a…

A: Definition: A Commercial General Liability (CGL) is a sort of insurance policy(protection…

Q: How does adverse selection impact the pricing and sustainability of insurance markets?

A: Adverse selection is a phenomenon in the insurance industry where those who believe they are most…

Q: You sell bicycle theft insurance. If bicycle owners do not know whether they are high or low risk…

A: Individuals purchase insurance to cover themselves against the potential risk of loss. There are…

Q: After graduation, you face a choice. You can work for a multinational consulting firm and earn a…

A: Write the formula to calculate accounting profit as follows: Accounting profit = revenue - explicit…

Q: Which of the following best describes why the Hours of Service Regulations were put into place? O To…

A: The driver test is important to ensure the safety of peope with having the all relevant information.…