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sladkih [1.3K]
3 years ago
6

One item that appears on an insurance company's financial statements is a liability that represents an estimate of the claims re

ported and adjusted but not yet paid, claims reported and filed but not yet adjusted, and claims incurred but not yet reported to the company. this liability is called the insurer's:
Business
1 answer:
Bess [88]3 years ago
8 0
<span>This liability is called the insurer's "loss reserve".</span>

Loss reserve<span> is a gauge of an insurer's liability from future cases. <span>Loss reserves</span> most often contain liquid resources, and they enable the insurer to cover claims made against strategies that it endorses. Assessing liabilities can be a difficult task. Insurers need to regulate loss reserve estimations as the situation change.</span>

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A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is 50 units.

p = 38 + (2,700 / D) - (5,000 / D2)

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(a) Profit is maximized by equality of Marginal revenue (MR) and MC.

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Since D > 0, (- 10,000 / D3) < 0, which proves that profit is maximized when company produces = 50 units.

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