If] Which of the following statements are true for the health insurance market? A] Adverse selection invariably results in market failure. Raising price leads to death spiral. Therefore, we always need government to intervene. B] By offering different packages to people with different risk type, insurance company can induce people to reveal their risk type. Then the asymmetric information problem and thus market failure are gone. C] Optimal social insurance should only partially insure individ uals against adverse events, which means that we can never fully add ress the efficiency loss resulting from asymmetric information. D] The health insurance market fails due to the adverse selection and moral hazard problems. Government intervention can help address these problems and improve social efficiency. E] Moral hazard refers to all kinds of behavior changes in response to insurance coverage against adverse outcomes. It is usually the optimal response for individuals F] In practice, we often observe that healthy families who are usually richer are more likely to purchase health insurancethan unhealthy families, which indicates that adverse selection is not a serious concern. 4