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An insurer with initial wealth of $2,000 and a utility of U(w) = log(x) is designing a policy to cover damages of $500 that occur

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An insurer with initial wealth of $2,000 and a utility of U(w) = log(x) is designing a policy to cover damages of $500 that occur with probability 0.5. Calculate the minimum premium that the insurer can charge for the policy

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