The IMF comprises of 50 member countries including all developed countries, and a few countries of Asia and Latin America

Refer to Table 4-6. The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion. What are the equilibrium price and quantity (in thousands) for Aunt Maud's Lotion?

A) $30 and 20 thousand B) $60 and 30 thousand C) $20 and 60 thousand D) $20 and 30 thousand

If fair insurance is offered to a risk-averse person, she will

A) buy enough insurance to eliminate all risk. B) not buy any insurance because it is overpriced. C) not buy any insurance since the marginal utility of the amount of the payment is positive. D) buy enough insurance to cover about half of the possible loss.