Log in or register. The Gilder Lehrman Institute of American History. Log in to favorite pages Share page Print page. The Patrons of Husbandry, or the Grange, was founded in 1867 to advance methods of agriculture, as well as to promote the social and economic needs of farmers in the United States.
Average Cost pricing: One possibility is that the government regulator might want to allow the firm to charge a slightly higher price, but make zero economic profit. This is accomplished when P = AC, an approach that is called Average Cost pricing.
Unlike co-payments and deductibles, premiums must be paid whether or not an insured person ever uses his or her policy. Between 2003 and 2011, the average premium costs for a family insurance policy rose 62 percent, from $9,249 per year to $15,022.