Affordable Consulting Has Insured Its Building with Multiple Companies for a Total

question 97

Multiple Choice

Affordable Consulting has insured its building with multiple companies for a total of $688,000, of which $275,200 is with USF&G. Assuming that all coinsurance requirements have been met, how much would USF&G be responsible for in the event of a $565,000 fire?

• A) $275,200
• B) $412,800
• C) $339,000
• D) $226,000

Calculate the optimal price and output for a monopolist under various cost and demand conditions.

Understand the implications of monopolies on economic efficiency and consumer surplus.

Learn about the strategies monopolists can use to increase profits, including price discrimination and adjusting output.

Analyze how external changes like input cost variations affect monopolist's decisions on production inputs.