Which of the following statements is true? (only one answer is possible) Which of the following statements is true? (only one answer is possible) Under partial insurance, income in the sick state with insurance is higher than income in the healthy state. There are no possible utility functions in which a person is indifferent between actuarially fair full insurance and actuarially fair partial insurance. In an actuarially fair insurance contract, the insurance premium equals the probability of sickness times the payout amount. Moral hazard offsets risk aversion in insurance contracts