PLEASEE ANswer 12 asapp

Let's suppose that you have only two health outcomes: stay healthy and diagnose with cancer. Given the probabilities and associated costs of those two outcomes, what would be your expected cancer-related cost? 4000300010005000 Question 12 2.5 pts Considering the above question, let's suppose that a cancer insurance policy that pays your cancer-related costs for the coming year is available for $5000. If you are risk averse, would you be willing to buy this insurance? If yes, what would be the premium amount? Yes, $2000 No Yes, $1000 Yes, \$0