Insurance can be profitable when it
A) eliminates risks.
B) decreases risks.
C) pools risks.
D) changes the individual's marginal utility of wealth.
C
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The unemployment rate equals the number of
A) unemployed workers multiplied by 100. B) unemployed workers divided by the population then multiplied by 100. C) unemployed workers divided by the number of employed workers then multiplied by 100. D) unemployed workers divided by the labor force then multiplied by 100.
What is the lowest price at which a firm produces an output? Explain why
What will be an ideal response?
Increased productivity of workers in manufacturing has
A. increased employment in manufacturing. B. increased employment in agriculture. C. decreased employment in agriculture. D. decreased employment in services. E. increased employment in services.
When Williams-Sonoma introduced its first bread baker at $200, sales were low. But when it decided to offer a fancier $300 version, sales of the $200 bread baker rose tremendously. An economist concluded that consumers needed another bread baker for comparison to decide whether the $200 bread baker was a deal. This economist is likely to be a(n):
A. behavioral economist. B. traditional economist. C. engineering economist. D. irrational economist.