Does a (1) financial responsibility law or (2) compulsory insurance law guarantee that accident victims will be adequately compensated for their injuries? Explain why or why not and address both in your answer.
Does a (1) financial responsibility law or (2) compulsory insurance law guarantee that accident victims will...
2+ 5 + 1 + 2 +2) Consider an insurance market with insurance firms being competitive and risk neutral (Zero expected profits in equilibrium) and a risk averse customer with a von-Neumann Morgenstern utility function . The customer is born with a wealth of $150. There is a probability of an accident p=0.3 in which case the customer will suffer a damage of $50. An insurance contract is , where premium paid in the no accident state, and = net...
1). Describe the law of eventually diminishing marginal returns. Does this law occur in the short run or in the long run. Why? Will a profit maximizing firm ever operate in the range of diminishing returns. Explain your answer.
b) (2+5 + 1 + 2 +2) Consider an insurance market with insurance firms being competitive and risk neutral (Zero expected profits in equilibrium) and a risk averse customer with a von-Neumann Morgenstern utility function u(x) = x1/3. The customer is born with a wealth of $150. There is a probability of an accident p=0.3 in which case the customer will suffer a damage of $50. An insurance contract is (Q1, Q2), where az = premium paid in the no...
1. Once the patient's responsibility has been determined , from the primary insurance EOB, what is the next step for the medical biller to take? 2. What information might be found found in the Remarks codes on the EOB? 3. Describe a coinsurance of 70/30 ratio. 4. Explain patient financial obligations for services rendered.
1) What responsibility (if any) does a company bear for the conduct of its suppliers? 2) Is the company responsible for unsafe, unsanitary working conditions in a supplier factory that is 8000 miles away? 3) Nokia was selected to be one of the companies included in an “ethical” fund – a mutual fund made up of the stocks of companies that are well-known for their commitment to ethical decisions. Should every company behave as if it were on this select...
Question 1 (compulsory): (i) State Gauss' law for the electric field (E-field) in words and explain its meaning. Write the corresponding mathematical expression and clearly define all symbols and operations used. Describe one application of Gauss' law. 15% (ii) A very long wire carrying electric charge with uniform line charge density is located in free space. Applying Gauss' law, derive the E-field due to this wire. Clearly explain every step of your derivation and the assumptions you take. 40% Find...
1. Consider 2 policies: A) The government requires everyone to buy a standard health insurance package that costs $5000; B) The government taxes everybody $5000 but cuts taxes by $5000 for everybody who buys the standard health insurance package. Do these policies have different effects on the size of government? Explain why. 2. Show graphically and explain why Pareto optimality occurs at a commodity distribution bundle between 2 agents where the marginal rates of substitution between the goods for both...
6. What is a standing order? Why does it need to be in writing? 1. What is a standard protocol? Does it need to be in writing? Explain your answer. is an allied health professional's responsibility in relation to a written prescription? A medication order A phone refill? (This varies according to state law.) 9. List the six parts of a medication order and explain each. 10. Why do health care professionals use abbreviations on prescriptions? Is it permissible to...
18. Responsibility Centers. Petroleum Products, Inc., operates primarily in the United States and has several segments: 1. Accounting and finance: responsible for recording financial information and preparing financial reports. 2. Human resources: responsible for hiring employees and maintaining personnel records 3. Retail stores: responsible for sales prices and all costs within each store. 4. Advertising: responsible for promotional materials 5. Production: responsible for manufacturing company products. 6. International operations: acts as an independent segment responsible for all facets of the...
The most influential theory of corporate responsibility of the past century is: the free society economic theory. the neoclassical economic theory. the social contract theory. the stakeholder theory. In which of the following ideas are the ethical roots of the economic model of corporate social responsibility found? The interests of stakeholders are as important as the interests of the corporation's stockholders. Managers are ethically obliged to make as much money as possible for their stockholders because to do otherwise would...