Suppose that the Live-Long-and-Prosper Health Insurance
Chapter , Problem 2(choose chapter or problem)
Suppose that the Live-Long-and-Prosper Health Insurance Company charges $5,000 annually for a family insurance policy. The companys president suggests that the company raise the annual price to $6,000 to increase its profits. If the firm followed this suggestion, what economic problem might arise? Would the firms pool of customers tend to become more or less healthy on average? Would the compa-nys profits necessarily increase?
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