Question: Below is the list of the most important risks an investor must evaluate when projecting an HMO's profitability. Which option does not belong to this

Below is the list of the most important risks an investor must evaluate when projecting an HMO's profitability. Which option does not belong to this list? 

a) not obtaining enough enrollees

 b) setting the capitation rate too high 

c) underestimating business expenses

d) overestimating amount of capital and labor needed to run an HMO 

e) having too much equity (relative to debt obligations).

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