Homework Clinic
Social Science Clinic => Economics => Microeconomics => Topic started by: newbem on Jul 21, 2019
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Assume that an insurance company sets a single price for insurance equal to the total medical bills paid by the insurance company divided by the number of its customers. If it pays medical bills of $5,000 for half of its customers and $9,000 for the other half of its customers, the price of insurance will be:
◦ $5,000.
◦ $6,000.
◦ $7,000.
◦ $9,000.
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$7,000.
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Thanks
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