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Q1. A risk-averse individual would always purchase a health insurance policy if offered an actuarially fair premium. (i) Please state whether you agree or disagree

Q1. A risk-averse individual would always purchase a health insurance policy if offered an actuarially fair premium.

(i) Please state whether you agree or disagree with this statement, and why.

(ii) Why would it be unlikely for a for-profit insurance company to offer an actuarially fair premium?

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