Answer:
The correct answer is letter "C": one of several products produced from a common input.
Explanation:
Joint products are those manufactured by large companies which production process at the early stages is the same for all different products being produced but at a certain stage, called the<em> split-off</em>, products start taking their own characteristics. As the products come from the same input initially, costs are allocated in a bundle. After the split-off, production costs are allocated in each type of product.
Answer: While the EMV is negative, the utility gained from purchasing the insurance is positive, and high.
Explanation:
The options to the question are:
A) He believes that the actual likelihood of his death occurring in the next twelve months is really much greater than the actuarial estimate.
B) While the EMV is negative, the utility gained from purchasing the insurance is positive, and high.
C) Mr. Weed is not rational.
D) A or C
E) None of the above
From the question, we are informed that Robert Weed is considering purchasing life insurance and that he must pay a $180 premium for a $100,000 life insurance policy.
His beneficiary will get $100,000 if he dies and get nothing of he doesn't die. Even though there's a 0.001chanve of him dying, he eventually bought the insurance.
The reason for him buying the insurance is because EMV he realized that the utility that he will derive from buying the insurance is positive, and high. He believed that paying $180 for a chance to get $100,000 was worth the risk even if he had a slim chance of dying.
B. when you are making a career change
It depends on what the amount of the money is and in what you will spend it
