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wrote...
Posts: 217
A month ago
Assume that an insurance company sets a single price for insurance equal to the total medical bills paid by the insurance company divided by the number of its customers. If it pays medical bills of $5,000 for half of its customers and $9,000 for the other half of its customers, the price of insurance will be:

▸ $5,000.

▸ $6,000.

▸ $7,000.

▸ $9,000.
Textbook 

Microeconomics: Principles, Applications, and Tools

Edition: 8th
Authors:
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A month ago
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$7,000.
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