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.
According to a 2011 survey conducted by the American Association for Long Term Care Insurance, a typical comprehensive policy paying up to $150 per day for three years of care cost an average of $1,480 annually for a single person if purchased at age 55. However, premiums ranged from $1,325 to a high of $2,550.