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ve reason why people desire medical 8. John Nyman (2003) advanced an insurance coverage. A. Briefly summarize his critiques on conventional insurance theory. B. Using

ve reason why people desire medical 8. John Nyman (2003) advanced an insurance coverage. A. Briefly summarize his critiques on conventional insurance theory. B. Using the model described below illustrate the concepts of efficient and inefficient moral hazard, and explain what they are Price (p) MC 91 92 19

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