Microeconomics, Student Value Edition Plus MyLab Economics with Pearson eText - Access Card Package (12th Edition)
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Chapter 13.3, Problem 1RQ
To determine

The single price monopoly output and the high price than the competitive market.

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An actuary analyzes a company’s annual personal auto claims, M and annual commercialauto claims, N . The analysis reveals that V ar(M ) = 1600, V ar(N ) = 900, and thecorrelation between M and N is ρ = 0.64. Compute V ar(M + N ).
Don't used hand raiting
Answer in step by step with explanation. Don't use Ai.
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