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3 years ago

What type of insurance policy would somone get to protect others?

Business

2 answers:

Gekata [30.6K]3 years ago

7 0

Answer:

life insurance

Explanation:

snow_lady [41]3 years ago

7 0

Insurance policy to protect somebody is life insurance

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3 years ago

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3 years ago

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Linda loves buying shoes and going out to dance. Her utility function for pairs of shoes, S, and the number of times she goes d

padilas [110]

Answer:

See Explanation

Explanation:

Given

$U(S,T) = 2ST$

$M_U_S =2T$

$M_U_T=2S$

The following details are omitted from the question

$P_S= \$50$ --- Price of the Shoes

$P_T = \$50$ --- Spent on dancing

$B = \$500$ --- Budget on shoe and dancing

Solving (a): Her budget line

First, we determine her budget equation (B).

This is calculated by:

$B = P_S * S + P_T *T$

This gives:

$500 = 50 * S + 50 * T$

$500 = 50 S + 50 T$

Divide through by 50

$10 =S + T$

$S + T = 10$ --- The budget equation

See attachment for the budget line equation

Solving (a): Optimal Consumption Bundle Point

First, we determine the marginal rate of substitution (MRS) using:

$MRS = \frac{MU_s}{MU_t} = 1$

$MRS = \frac{2S}{2T} =1$

This implies that:

$\frac{2S}{2T} = 1$

Cross Multiply

$2S = 2T * 1$

$2S = 2T$

Divide by 2

$S = T$

Substitute T for S in the budget equation

$T + T= 10$

$2T = 10$

$T=5$

Recall that:

$S = T$

$S = 5$

So, the point if optimal consumption bundle is (5,5)

See attachment for point R

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3 years ago

Russell Co. received a $520 utility bill for the current month's electricity. It is not due until the end of the next month whic

nekit [7.7K]

Answer:

Journal Entry to reflect the event is as follow;

Dr. Cr.

Utility Expense $520

Utility bill payable $520

Explanation:

Utility bill is received it means the expense is accrued and it is not due until the month end so a liability will be created and will be paid next month.

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3 years ago