Which of the Following Is False

question 54

Multiple Choice

Which of the following is false?

• A)a pedestrian who has a PAP and is injured by an automobile can collect under his own Medical Payments coverage
• B)the PAP covers theft of the automobile
• C)the subrogation provision of the PAP does not apply to Medical Payments coverage
• D)there is no coverage for the insured while driving a rented automobile

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Definitions:

Inverse Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded, where the price is on the vertical axis and quantity on the horizontal axis.

Marginal Costs

The extra expense associated with manufacturing an additional unit of a product or service.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different customers, based on their willingness to pay.

Demand

The willingness and ability of consumers to purchase goods or services at different prices.