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geniusboy [140]
3 years ago
15

Assume you have a home which would cost $120,000 to replace. You currently have the home insured for $85,000. Last night a torna

do damaged your home, causing an estimated $25,000 in damage. How much will your insurance company pay for repairing the damage to your home?
Business
2 answers:
prisoha [69]3 years ago
6 0

Answer:

$22,135

Explanation:

We are given

Estimated damage = $25,000

Amount insured = $85,000

Base on the scenario been described in the question we are to calculate the how much the insurance company will

This can be calculated using this method

Insurance claim = (Estimated damage × amount insured)/ 80% of replacement cost

insurance claim = (25,000×85,000)/80% of 120,000

Insurance money = 2,125,000,000/96,000

Insurance money = $22,135

Vikki [24]3 years ago
5 0

Answer:

The insurance claim is $22,135

Explanation:

In this question, we are to calculate the amount an insurance company will pay for a damaged house that was insured.

Firstly, it should be noted that at the time of replacement, the insurance company offer the insurance amount at 80% on actual replacement cost.

Thus, the insurance claim is calculated as follows;

Insurance claim = (Estimated damage * amount insured)/ 80% of replacement cost

insurance claim = (25,000 * 85,000)/80% of 120,000

= 2,125,000,000/96,000 = $22,135

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Which best describes the relationship between total utility and marginal utility?.
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Answer:

While total utility measures the aggregate satisfaction an individual receives from the consumption of a specific quantity of a good or service, marginal utility is the satisfaction an individual receives from consuming one additional unit of a good or service.

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2 years ago
Going 'long' (including more periods) on a moving average forecast is usually most appropriate when: 1. Significant fluctuations
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2. Significant fluctuations in the market would actually be corrected
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Annie, a marketing manager, is worried her firm is doing a poor job of managing the movement of finished products to the final c
Morgarella [4.7K]

The company should improve their distribution management.

<u>Explanation: </u>

Distribution management describes the process of managing the transport of goods from the supplier or retailer to the point of purchase.  

It is an overriding term that applies to a number of activities and methods, such as packaging, stock, warehousing, supply chain, and transportation.

For the business ' financial success and corporate success, the adoption of a distribution management strategy is crucial.  

Distribution management helps to maintain organization and satisfies customers.

The basic idea of distribution management as a marketing tool is that distribution management takes place in an environment that also includes the following aspects:

Product, Price, Promotion and placement (4 P’s)

5 0
3 years ago
Which economic system leaves production decisions completely up to the producers? 1. mixed economy 2. command economy 3. planned
ozzi

Answer:

4. free-market economy

Explanation:

Free-market economy -

A free market refers to the economic system which depends on the demand and supply , where the control of government is nil , is referred to as free - market economy.

It helps to provide all the voluntary exchange occurring in the economy.

The range of the free market economy of a particular country , is present in between very large or completely black market.

Hence, from the given statement of the question,

The correct term is free - market economy.  

7 0
3 years ago
Given the total fixed-cost curve in gray and the total variable-cost curve in color, draw the total cost curve. Three points on
saveliy_v [14]

Answer:

TFC : Horizontal Line parallel to X axis

TVC : Upward sloping inverse S shape curve from origin

TC : Upward sloping increase S shape curve, with Y axis intercept = TFC

Explanation:

Total Fixed cost [TFC] is the total production expenditure, done on fixed factors of production (Eg - on machine, building etc). It is incurred even at zero level of output, stays same (constant) irrespective of output level. So, it's curve is a  constant horizontal line.

Total Variable Cost [TVC] is the total production expenditure, done on variable factors of production (Eg - on raw material). It is zero at zero level of output,  directly related to level of output thereafter. It first increases at a decreasing rate, then increases at an increasing rate. So, it's curve is inverse S upward sloping curve from origin.

Total Cost [TC] is the total cost incurred on all factors of production (fixed & variable). It is sum of TVC & TFC. As TFC is constant at all levels of output, TC changes due to change in TVC. So, TC is also directly related to output level, first increases at increasing rate & then at decreasing rate. Hence, it is also a inverse S upward sloping curve. But, it also includes constant TFC. So, the curve has intercept on Y axis = TFC (it doesn't start from origin).

4 0
3 years ago
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