For a pure monopolist the relationship between total revenue andmarginal revenue is such that:

A.marginal revenue is positive when totalrevenue is at a maximum.

B.total revenue is positive when marginalrevenue is increasing, but total revenue becomes negative whenmarginal revenue is decreasing.

C.marginal revenue is positive whenrevenue is increasing, but marginal revenue becomes negative whentotal revenue is decreasing.

D. marginal revenue is positive so long astotal revenue is positive.

A pure monopolist's demand curve is:

A.downsloping

B.upsloping

C.parallel to the vertical axis.

D.parallel to the horizontal axis.

A pure monopolist should never produce in the:

A.elastic segment of its demand curve because itcan increase total revenue and reduce total cost by loweringprice.

B.inelastic segment of its demand curve becauseit can increase total revenue and reduce total cost by increasingprice.

C.inelastic segment of its demand curve becauseit can always increase total revenue by more than it increasestotal cost by reducing price.

D.segment of its demand curve where the priceelasticity coeffiecient is greater the one

In carrying out its mortality investigations, a life insurance company uses census data 'om its mid-year valuations. For all lines of business in-force policies are classified by age nearest birthday at the saluation date {31] June in each calendar year], where PAT] is the number of in- force policies aged 1: nearest birthday in calendar year T . For a portfolio of term insurance policies sold in the 1990's the exact date of birth was recorded. The total number of deaths during the calendar years Elli]? and 2003, HI, have been classified by age I , where: x = age last birthday at the date of death {iJ Derive an exposed to risk formula for the estimation of the force of mortality at age I . State any assumptions that you make. [4] {ii} State the age to which your estimated rates apply, giving any assumptions that are necessary. [2] [Total 5]