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6. A farmer buys insurance for $100,000 that will reimburse him up to $200,000 if his crops are totally destroyed. After observing the damages from

6. A farmer buys insurance for $100,000 that will reimburse him up to $200,000 if his crops are totally destroyed. After observing the damages from a flood, he receives $150,000 in compensation from the insurance company. The indemnity is...

7. A farmer buys insurance for $100,000 that will reimburse him up to $200,000 if his crops are totally destroyed. After observing the damages from a flood, he receives $150,000 in compensation from the insurance company. The premium is...

8. A farmer buys insurance for $100,000 that will reimburse him up to $200,000 if his crops are totally destroyed. After observing the damages from a flood, he receives $150,000 in compensation from the insurance company. The liability is...

9. A farmer buys insurance for $100,000 that will reimburse him up to $200,000 if his crops are totally destroyed. After observing the damages from a flood, he receives $150,000 in compensation from the insurance company. The premium rate is...

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