V EJQ Page 1 of 5 v 100% Is this document missing answers? Crop or click to get answers and explanations from our expert tutors Health Economics Exam 1 February 25, 2021 There are 8 short-answer questions worth 8 points each. There are two long-answer questions worth 18 points each. Show your work on all questions for full credit! Short answer questions 1. E U(I) .............e......, ['11 is Isc EU]q En]P 1H0 In I i) Rank the contracts in order of the individual's preference between Z, Y, E, and X. ii) Rank the contracts in order of an insurer's preference between Z, Y, E, and X. (Assume that the insurer is riskneutral, meaning that their sole objective is to maximize prots.) iii) If the individual were instead risk-loving, would he or she prefer contract E or X? iv) Assuming that this individual's probability of sickness is 1), what is the maximum premium he or she be willing to pay for contract Q? (Note: use only p and any of the terms indicated in the above diagram to answer the question.) View answer and explanation n snileyn02 0 Verified Expert