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Consider the following situation: the premium ( price ) of life insurance rises as people get older even though the demand for life insurance goes
Consider the following situation: the premiumprice of life insurance rises as people get older even though the demand for life insurance goes down as they get older. Explain why this situation occurs in terms of supply and demand curves of life insurance. Life insurance: if the insured dies while the policy is intact, the beneficiary of the policy receives the death benefit.
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