Question: Based on your reading and our discussion in class, the demand for health insurance (actually other insurances, too) is related to several important factors. Explain

Based on your reading and our discussion in class, the demand for health insurance (actually other insurances, too) is related to several important factors. Explain the following using graphs:

A) How is demand for health insurance related to the degree (level) of risk aversion.

B) How is demand for health insurance related to the size of potential loss. In this case, consider loss as the financial loss or cost that may incurred if a negative health event happens.

Based on your reading and our discussion in class, the demand for health insurance (actually other insurances, too) is related to several important factors. Explain the following using graphs:

A) How is demand for health insurance related to the degree (level) of risk aversion.

B) How is demand for health insurance related to the size of potential loss. In this case, consider loss as the financial loss or cost that may incurred if a negative health event happens.

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