Justin enrolls in health insurance which is a group of 600 people just like him. Each year, 8 of them have an accident or get sick, with expenses of $9,000 each. With insurance, the full amount of the expenses is covered. In the competitive long-run equilibrium, how much are the insurance premiums?

Answer rating: 100% (QA)

To determine the insurance premiums in the competitive longrun equilibrium we need to consider the e... View the full answer