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Some states prohibit insurance companies from using car owners' home addresses to set auto insurance rates. Why do insurance companies use home addresses? What are the efficiency and equity implications of forbidding such practices?
Microeconomics, Economics
Question: Marty McFly's utility function is given by U(L, C) = C(L+8). There are 24 hour in a day. His wage is $10/hr. and he has $20 non-labor income. a. Find the budget constraint and then the optimal number of hours h ...
Question: In a certain market demand is Q = 2000 - 100P, cannot produce more than 10 units. No other sellers may enter the market. a. Draw the demand and supply curves and find the equilibrium price, quantity, and profit ...
Question: Minimum wages and rent controls are implemented in an attempt to help those of modest means. Explain the costs and benefits of such price controls. Suggest alternatives that you believe would be more appropriat ...
Question: Under what conditions would you expect the recent rapid growth rates in the Indian subcontinent and south Asia to continue, and under what conditions are they likely to diminish in the near future? The response ...
Question: In the early 1990s, MIT economist Lester Thurow wrote that of the three major powers in the world economy in the twenty-first century, Europe would be the leader. However, its growth rate fell far behind the US ...
Question: An engineer is thinking of starting a part-time consulting business next September 5,on his 40 birthday. He expects the business will require an initial cash outlay of $5000, to come from is savings, and will c ...
Question: An economic consultant studies the labor policies of a firm where it is difficult to monitor workers and prepares a report in which she recommends that the firm raise employee wages. At a meeting of the firm's ...
Question: Consider the industry in which you work, or one about which you have some knowledge. What are the costs and benefits associated with attempting to bar entry of other firms into this industry? How would a firm e ...
Question: A company has annual fixed costs of exist2,500,000 and variable costs of 0.15 per unit produced. For the firm to break even if they charge exist1.85 for their product, the level of annual production is nearest ...
Question: You can choose between Machine A or B. Your interest rate is 6%. You need a Machine for an infinite time. a. Machine A costs $22,000 and lasts for 3 years. It has no salvage value and costs an additional $15,00 ...
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