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wrote...
Posts: 218
A month ago
Suppose an insurance company determines that the average annual malpractice cost is $10,000 for reckless lawyers and $500 for careful lawyers. If 10% of the lawyers insured by the company are reckless, the company will earn zero economic profit if the price of insurance is:

▸ $500.

▸ $1,450.

▸ $5,250.

▸ $10,000.
Textbook 

Microeconomics: Principles, Applications, and Tools

Edition: 8th
Authors:
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Answer verified by a subject expert
wrote...
Posts: 223
A month ago
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$1,450.
1
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wrote...
A month ago
Thank you for answering so quickly
wrote...
A month ago
Was feeling bored, my pleasure Grinning Face with Smiling Eyes
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