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The three assumptions necessary for a linear programming model to be appropriate include all of the following except
Equilibrium Premium
The price level at which supply and demand for a financial instrument, such as insurance, are balanced, minimizing the risk of loss for insurers.
Equilibrium Quantity
The volume of products or services on offer equals the volume sought by consumers at the equilibrium price in the market.
Expected Utility
The anticipated satisfaction or value a person expects to receive from a particular outcome, considering all possible outcomes and their probabilities.
Insurance Market
The marketplace where various types of insurance products and services are traded between insurers and those seeking insurance protection.
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