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Economic Analysis of Social Issues 1st Edition by Alan Grant
Edition 1ISBN: 978-0134098371Economic Analysis of Social Issues 1st Edition by Alan Grant
Edition 1ISBN: 978-0134098371 Exercise 31
[Related to Application 14.3 on page 288] Refer to problem, Which players are most likely to drop their insurance coverage? If one member of the pool drops out, what will the premium become?.After calculating the answer, explain how the ACA's personal mandate can help keep health insurance affordable.
Curling is a sport where teams slide stones on ice and attempt to hit targets. Teams consist of four players. Suppose that Bob, Carol, Ted, and Alice are on a team.
Bob and Carol have a 50% chance of slipping on the ice; Ted and Alice have a 25% chance. Each slip results in a bruise that costs $100 to treat. If each member were offered bruise insurance, how much would the premium be?
Curling is a sport where teams slide stones on ice and attempt to hit targets. Teams consist of four players. Suppose that Bob, Carol, Ted, and Alice are on a team.
Bob and Carol have a 50% chance of slipping on the ice; Ted and Alice have a 25% chance. Each slip results in a bruise that costs $100 to treat. If each member were offered bruise insurance, how much would the premium be?
Explanation
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Given information:
• Person B's chance ...
Economic Analysis of Social Issues 1st Edition by Alan Grant
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