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A Plan That Insures a Large Number of Persons Under

question 145

Multiple Choice

A plan that insures a large number of persons under the terms of a single policy without requiring medical examinations is called a ________ life insurance policy.


Definitions:

Marginal Utility

The boost in satisfaction from the consumption of an additional item of a good or service.

Total Utility

The overall satisfaction or pleasure a consumer derives from consuming a certain quantity of goods or services.

Marginal Utility

The extra fulfillment or advantage a person gains by consuming an additional unit of a product or service.

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