Please solve the following 1 to 5 questions If the insurance premium rate is 10%, the accident rate (probability of a loss) is 10%, the amount of the lossis $5000, then for a risk averse consumer the amount of insurance demanded isIf wages are uniformly distributed from $70 to $130, and if the expected cost of sampling for a new wage is$6, then sampling for a new wage will stop when wage equalslevel ofAll other things constant, a lower loss amount for a risk averse person results in aoptimal insurance demanded.If the discount rate (current interest rate) is 3%, then the present value of a bond that promisesnext year and $100 two years from now is equal to $200.In the presence of an external cost, the socially optimal quantity isthan the privately optimalquantity.

Meaning of Risk-Averse: The term risk-averse is that situation under which the investor takes…

If the insurance premium rate is 10%, the accident rate (probability of a loss) is 10%, the amount of the loss is $5000, then for a risk averse consumer the amount of insurance demanded is If wages are uniformly distributed from $70 to $130, and if the expected cost of sampling for a new wage is $6, then sampling for a new wage will stop when wage equals, All other things constant, a lower loss amount for a risk averse person results in a optimal insurance demanded. level of If the discount rate (current interest rate) is 3%, then the present value of a bond that promises next year and $100 two years from now is equal to $200. In the presence of an external cost, the socially optimal quantity is than the privately optimal quantity.

If the insurance premium rate is 10%, the accident rate (probability of a loss) is 10%, the amount of the loss is $5000, then for a risk averse consumer the amount of insurance demanded is If wages are uniformly distributed from $70 to $130, and if the expected cost of sampling for a new wage is $6, then sampling for a new wage will stop when wage equals, All other things constant, a lower loss amount for a risk averse person results in a optimal insurance demanded. level of If the discount rate (current interest rate) is 3%, then the present value of a bond that promises next year and $100 two years from now is equal to $200. In the presence of an external cost, the socially optimal quantity is than the privately optimal quantity.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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