With no public health insurance market, how many families buy insurance, what is the premium, and is
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With no public health insurance market, how many families buy insurance, what is the premium, and is the coverage efficient?
Use the following figure, which shows the marginal benefit from health insurance and the willingness and ability to pay for it, to work Problems 7 to 10.
The marginal cost of insurance is a constant $6,000 per family per year. Marginal social benefit from insurance exceeds the willingness and ability to pay by a constant $4,000 per family per year.
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