The marginal cost of production is MC=0.3x+4, determine the cost involved to increase production from 70 to 100 units.
Find total cost function by integrating MC function. Then find total cost at 100 units and 70 units and then take their difference. TC = 0.3x^2 / 2 + 4x At x = 70, TC = 1015 At x = 100, TC = 1900 So, difference = 1900 – 1015 = 885
Which of the following term is not related with the Hazard?
What is the insurance of commercial property that protects the property from such perils as fire, theft and natural disaster?
An environment where insurance is plentiful and sold at a lower cost, also known as a Buyer’s market is called?
Which of the following is a reinsurance company in India?
Which of the following person is basically the representative of the customer and can sell the policies of more than one insurer?
Coverage against loss through stealing by individuals not in a position of trust is called?
In relation to insurance sector, what is the full form of FPR?
The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?
The Indian insurance industry is governed by which of the following act ?
The Life Insurance Corporation of India (LIC) came into existence in which year?
