Answer:
D. Both b) and c) are correct.
Explanation:
Consumer surplus is the difference between the total profit we get from service and its market price. This means that the first unit to acquire we value it highly but as we acquire additional units our valuation falls. However, the price we pay for any unit is always the same.
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Answer: The physician is being sued. Insurance company should provide an attorney. If the doctor is negligent, insurance company should pay (that's why we have premiums). Dr. Z is sued, goes to agency, and notifies the agency. The agency doesn't notify Aetna in right amount of time, and also notifies the wrong company. Aetna doesn't have a liability because they were not notified in a timely manner. Larson is agent to Aetna. A principal's notice to agent=notice to principal. That's the same as notifying Aetna according to its claims procedure. This is not Dr.Z's problem. Aetna is wrong in denying coverage, and Dr.Z will succeed and not have to pay.
Answer:
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Two examples of real-life instances where a person might engage in an error in reasoning and, as a result, come to a faulty conclusion about something that they observed are:
1. Concluding that a person is harsh because his face is not cheerful.
2. Predicting that it will rain because the weather is gloomy.
<h3>What is a Faulty Conclusion?</h3>
A faulty conclusion is reached when the pattern of reasoning is faulty. Before a conclusion can be reached on a matter, it is vital to test the observations beyond all reasonable doubts.
If this is not done, the probability of reaching a faulty conclusion will be high.
Learn more about faulty conclusions here:
brainly.com/question/2141635