For each of the following situations, what amount would the insurance company pay? (Leave no cells blank - be certain to enter "0" wherever required.) a. Wind damage of $835; the insured has a deductible of $500.

Why is the type of product sold in an industry an important characteristic? a firm that can differentiate its product from that of rivals may be able to charge a higher price for a superior product. a firm that sells intangible goods is usually considered a monopoly. service industries cannot differentiate their products, which makes it easy for new firms to enter the industry. expensive products are usually sold by perfectly competitive firms.