A consumer has wealth W = Ghc 100 and faces a 50% probability that he will require a surgical procedure which costs Ghc 64. He behaves as if he maximizes his expected utility and his utility
function is U (W) =

(i) Sketch a graph showing the utility function, the consumer's wealth when he does and
does not need surgery, and expected utility as the probability of needing surgery varies
between zero and one.
[2 marks]
(ii) What is the expected loss the consumer faces? Calculate, and indicate on your graph.
[2 marks]
(iii) What is the maximum price he would pay for full insurance Calculate, and indicate on
[2 marks]
your graph.
(iv) A competitive (hence, zero profit), zero cost insurance industry provides only full
[2 marks]
insurance contracts. What is the equilibrium price for full insurance?
(v) Are consumers better off due to the existence of insurance? Briefly explain. [2 marks]​

Elizabeth believes her company has discriminated against her because her minority coworkers, who are less qualified, have been promoted ahead of her. which agency should elizabeth contact? - national alliance of business- affirmative action council- equal employment opportunity commission- federal trade commission- fair employment practices agency

The amberssen specialty company is a chain of twelve retail stores that sell a variety of imported gift items, gourmet chocolates, cheeses, and wines in the toronto area. amberssen has an is staff of three people who have created a simple but effective information system of networked point-of-sale registers at the stores and a centralized accounting system at the company head- quarters. harry hilman, the head of amberssens is group, has just received the following memo from bill amberssen, sales director (and son of amberssen’s founder). harry—it’s time amberssen specialty launched itself on the internet. many of our competitors are already there, selling to customers without the expense of a retail storefront, and we should be there too. i project that we could double or triple our annual revenues by selling our products on the internet. i’d like to have this ready by - giving, in time for the prime holiday gift-shopping season. bill after pondering this memo for several days, harry scheduled a meeting with bill so that he could clarify bill’s vision of this venture. using the standard con- tent of a system request as your guide, prepare a list of questions that harry needs to have answered about this project.

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.