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Consider the adverse selection model of health insurance. (a) Why is the marginal cost curve negatively sloped? (b) Can you draw a diagram (only one

Consider the adverse selection model of health insurance.

(a) Why is the marginal cost curve negatively sloped?

(b) Can you draw a diagram (only one diagram) where both the provision of universal health care and complete privatization are not maximizing welfare? Explain.

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