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Relating to the Economics in Practice on page 356: An individual with a parent who has Huntington's disease has a 50 percent chance of also having the disease, and can use this information when deciding on the purchase of health insurance. This is an example of ________ favoring potential insurance buyers.
Existing State
The current conditions or circumstances of a system, situation, or state of affairs.
Desired State
A future condition or situation that an individual or organization aims to achieve.
Perfect Rationality
A decision strategy that is completely informed, perfectly logical, and oriented toward economic gain.
Nobel Prize
A set of annual international awards bestowed in several categories by Swedish and Norwegian institutions in recognition of academic, cultural, or scientific advances.
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