true/false/uncertain and explain: Holding everything else constant, the likelihood of a consumer purchasing health insurance increases...
true/false/uncertain and explain: Holding everything else constant, the likelihood of a consumer purchasing health insurance increases when the probability of a loss increases.
Homework Answers
Correct Answer:
True
When probability of loss or getting ill, increases, then there is a higher propensity to go for the health care treatment. In this circumstances, the payment done for the health care is higher than the premium paid for the healthcare insurance. Hence, person has more likelihood to buy the health care insurance.
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true/false/uncertain and explain: Holding everything else
constant, the likelihood of a consumer purchasing health insurance
increases...
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