Write your answers on separate sheets of paper. Please include: your name your r
ID: 1208233 • Letter: W
Question
Write your answers on separate sheets of paper. Please include: your name your recitation teacher's name day and time of your recitation (Multiple Choice) Adverse selection occurs when A person takes more risks that are not known to the life insurance company because he has life insurance. A person buys life insurance because he has a risky lifestyle that A>> not known to the life insurance company. A person is a risk lover. Pregnant women with health insurance make more doctor visits than uninsured pregnant women. Some universities do not givejetter grade*. One rationale is that eliminating the letter-grade system reduces pressure on students, thus enabling them to learn more. Does this policy help or hurt students? Use Aloerlof's lemons model to explain why restaurants that cater to tourists are likely to serve low-quality meal Duopoly quantity-setting firms face the market demand: P = 200- (1/3)Q where'Q = Q_1 + Q_2- Each firm has a marginal cost of $80 per unit. What is the Cournot equilibrium? What is the Stackelberg equilibrium when Finn 1 moves first? Suppose two firms are competing in prices (Bertrand) in an industry where demand is p = 200-4Q. If both firms have MC 120, what is the equilibrium quantity for each firm? Profits? Suppose one firm has MC=120 and one has MC=100. Approximately how much profit docs each firm make? Suppose one firm has MC=150 and one has MC = 0. Approximately how much profit docs each firm make?Explanation / Answer
1. answer to 1 is b. i.e. "a person buys life insurance because he has a risky lifestyle that is not known to the life insurance company".
2. Letter grades should be eliminated. They don't show where the students need to improve. They are just broad topics. Number grading system is the best, which also shows where one needs to improve. There should not be a letter grading system, only number grading system. Why use letter grade when they dont tell you what you should improve on. Further, Letter grades only tell kids the range that they are scoring in and not exactly how they are doing. If a student tries their hardest but scores a D, that just shows that student, their parents, and peers that they scored a D, but if the teacher gives the student an oral evaluation, only the student knows how they are doing and doesn't give eveyone a way to catagorize them. For eg. a student getting 33 is also D & in the next exam with marks 53 is also D. The student did improve but grades could not capture it. Its hurts the morale of the student.
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