3 3 points The figure below shows the market for snowboards in the state of Colorado. The Colorado state legislature has imposed a sales of tax on each
snowboard sold. Assume that the pre-tax price of a snowboard was $50. After the tax, consumers are paying $55 per snowboard while firms are
receiving $40 per snowboard.

An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value