Kurt simmons has 50/100/15 auto insurance coverage. one evening he lost control of his vehicle hitting a parked car and damaging a storefront along the street. damage to the parked car was $6,300, and damage to the store was $15,820. what amount will the insurance company pay for the damages? what amount will kurt have to pay?

$15,000 and $7,120

Explanation:

The 50/100/15 represents the $50,000 per individual, the $100,000 is total bodily injury protection per accident and $15,000 is the damage of the property per accident

So, the maximum amount which is to be paid for damages is $15,000

And the Kurt have to pay

= Damage to the parked car  + damage to the store + damage of the property per accident

= $6,300 + $15,820 - $15,000

= $7,120

answer///supply is elastic, and demand is inelastic;