Which of the following is true about the supply and demand curves for insurance?
A) The demand for insurance is very elastic and sensitive to price.
B) As price declines, the demand for insurance increases dramatically.
C) The supply of insurance increases dramatically with a decrease in the price.
D) Insurers will tend to reduce supply if the price is artificially increased or decreased.
D
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The maker of Peter Pan peanut butter has developed a honey-flavoured peanut butter spread to add to its peanut product line. Is this a new product?
a. Yes, this is a discontinuous innovation. b. No, peanut butter cannot be considered an innovation. c. Yes, additions to the product line are new products. d. No, this is not a product improvement.
Which section of the general partnership agreement form contains information about a partner's right to demand property?
A) Article I B) Article II C) Article III D) Article IV