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serg [7]
3 years ago
11

In the state where Susan lives, drivers whom private insurance companies do not want to insure are placed in a common pool, and

each insurer pays its pro rata share of pool losses and expenses. A common policy is used for all high-risk drivers. Susan's state handles high-risk drivers through a(n)
Business
1 answer:
deff fn [24]3 years ago
3 0

Answer: Joint Underwriting Association

Explanation: An association which affords licensed drivers the opportunity to come together and provide coverage or compensation for vehicle owners or insurers is the Joint Underwriting Association. Members of the association are usually composed of drivers who have been unable to obtain insurance the regular or private insurance companies usually due to the risk exposure level of the driver's or car owners. The joint Underwriting Association requires that members pay shares fees and share of pool losses. However, they are usually more affordable than the standard insurance coverage offered by most private insurance companies and thus provides an insurance lifeline to high risk drivers.

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In two to four sentences, explain economies of scale.
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The reduction in long-run average and marginal costs arising from an increase in size of an operating unit (a factory or plant, for example). Economics of scale can be internal to an organization (cost reduction due to technological and management factors) or external (cost reduction due to the effect of technology in an industry).



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7 0
4 years ago
A firm has a marginal cost of $20 and charges a price of $40. The Lerner index for this firm is:________.
zhuklara [117]

Answer:

The correct answer is:

0.50 (B)

Explanation:

The Lerner index is used by monopolists to measure market/monopolist power, and it is defined as the percent markup of price over marginal cost.

It is given by the formula:

L = \frac{P - MC}{P}\\where:\\L = Lerner\ index\\P = price = \$40\\MC = marginal\ cost = \$20\\\\L = \frac{40\ -\ 20}{40} \\L = \frac{20}{40}\\ L = 0.5

Note: in a perfectly competitive market, L = 0, which makes Price = Marginal cost in the equation above. But in a competitive market, it is always the case that L ≥ 0

7 0
3 years ago
For marketing to occur, there must be two or more parties with unsatisfied needs. Dr. Pepper Snapple Group distributes Country T
Len [333]

Answer:

The answer to this question is

b. people with a desire for a beverage other than soda or water

Explanation:

The "second" party needed for marketing to occur in this case are people who are in need of the product produced by Dr. Pepper Snapple Group. (I.e the customers ) however, the type of customer that Dr. Pepper Snapple group will seek to have are customer with a desire for a beverage other than soda and water because it's price is comparable to that of soft drink.  Which implies that customer with no interest in that kind of  product will not buy but will rather stick with their preference for soft drinks since it is the same price with the new product by Dr. Pepper Snapple group.

Hence, Dr. Pepper Snapple group  will need to have people with a desire for a beverage other than soda or water  for marketing to occur.  

6 0
3 years ago
Read 2 more answers
Financial statements does not cover a period of time but rather reports amounts at a specific point in time?
SashulF [63]
The answer is: Balance sheet
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6 0
4 years ago
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