Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Question
Chapter 14, Problem 2.1P
(a)
To determine
Demand curve of the firm.
(b)
To determine
Marginal Revenue curve.
(c)
To determine
Quantity and price.
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Students have asked these similar questions
You are in the market for a used 2006 Honda Accord. You know that half of the 2006 Accords are lemons and half are peaches. If you could be
assured that the Accord you were buying were a peach, you would be willing to pay up to $10,000. On the other hand, you would only be willing
to pay $2,000 for a lemon. You have no ability to discern whether any particular Accord is a lemon or a peach. Sellers of Accords, on the other
hand, are likely to know whether their particular car is a lemon or a peach. Suppose sellers of lemons will sell their cars for $1,500 or more and
peach sellers will be willing to sell their cars for $8,500 or more.
Over time the price in the market for 2006 Accords will
and
will be traded.
O A. be between $8,500 and $10,000; only peaches
O B. be between $1,500 and $2,000 for lemons; only lemons
OC. be between $8,500 and $10,000 for peaches and between $1,500 and $2,000 for lemons; both lemons and peaches
O D. be between $1,500 and $10,000; both lemons and peaches
Economics
Use the following information to determine the
costs to you and/or to the insurance company for
the following occurrences:1) You have $500 per
person Wellness Benefit.2) You have a $500
İndividual Deductible and your family (spouse and
children) has a $500 Family Deductible.3) You have
a $10,000 annual Maximum Family Out-of- Pocket
expense provision.4) Once you have met your
Individual or Family Deductible, your insurance will
pay 80% of the expenses and you will pay 20% as
your co-pay.Unless the occurrence is a Wellness
expense, you and/or your family have to meet
their deductibles first before insurance will pay
anything. Example:Assume that you have met your
deductible, and you go to the Emergency Room
for a large cut on your shin which required
cleaning, 20 stitches, a tetanus shot, and
antibiotics. (80/20 plan)Total Charges = $2,500
totalYour Responsibility = $2,500*.20 = $500 (goes
toward your Max Out of Pocket)Insurance
Responsibility = $2,500*.80 = $2,000
Question:…
Please give typed solution, don't use handwriting or notebook for solution.
Todd is driving his SUV and Susan is a passenger. They are headingdowntown for dinner. Todd’s PAP policy has a Medical Payment limit of$10,000 per person. Susan’s PAP has a Medical Payment limit of $5,000 person.
Todd is involved in an at-fault accident that results in Susan beinginjured and incurring $12,000 of medical expenses.
How much in Medical Payments coverage would Todd’s PAP insurerpay?
How much in Medical Payments coverage would Susan’s PAP insurerpay?
Chapter 14 Solutions
Principles of Economics (12th Edition)
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