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Author Question: Why do health insurance companies ask their potential customers to submit their previous medical ... (Read 91 times)

jace

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on: Jun 29, 2018
Why do health insurance companies ask their potential customers to submit their previous medical records?
 
  What will be an ideal response?

Question 2

Any production point outside the production possibilities frontier is
 
  A) unattainable.
  B) associated with unused resources.
  C) attainable only if prices fall.
  D) attainable only if prices rise.


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jessofishing

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Customers of health insurance companies have better information about their health conditions than do the insurers. In order to reduce this information asymmetry, potential customers are often asked to submit their previous medical records. This is an example of signaling by customers.

Answer to Question 2

A


jace

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Bigfoot1984

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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