Business, 26.12.2019 07:31 smithmariah7426

Suppose someone knew the probability of incurring a $10,000 medical expense was 5% and the odds of being healthy and incurring no expenses was 95%. if they used that information to compare the expected cost to them ($500) with the $600 premium it wouldcost to get full coverage and decided to buy the insurance then economists would say they are

a)irrational
b)risk loving
c)risk averse
d)risk neutra

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Suppose someone knew the probability of incurring a $10,000 medical expense was 5% and the odds of b...