Which of the following parties is likely to have the most information about the health of an individual who is trying to purchase a health insurance policy?
A) the employer of the individual who is trying to purchase the health insurance policy
B) the individual who is applying for the health insurance policy
C) the company that issues the health insurance policy
D) All parties in the health insurance market have access to the same level of information.
B
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The demand curve in its home market is P = 200 - Q; the demand curve in its foreign market is P = 160 - 2Q; and its marginal cost is a constant $20 per unit. What is the discriminating monopolist's profit maximizing output in the foreign market?
a. 90 b. 110 c. 70 d. 35
A profit-maximizing firm will never hire that quantity of a factor of production for which that factor has an increasing marginal productivity because:
a. it would not be maximizing output. b. it would not be maximizing the productivity of labor. c. it would not be minimizing costs. d. it would not be maximizing profits.