If an Individual Faces a 3% Chance of Requiring a Surgery

question 20

Multiple Choice

If an individual faces a 3% chance of requiring a surgery that costs $10,000 then a risk-averse person would be willing to pay ____________ per year for health insurance that would cover the cost of the surgery if the shock hits.

• A) More than $300.
• B) $30
• C) $300
• D) $3,000

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Definitions:

Entertainment Industry

Comprises companies and individuals that produce and distribute content for mass entertainment, including movies, music, television, and live performances.

Charles G. Finney

A leader in the Second Great Awakening in the United States, known for his innovative revival techniques and emphasis on individual choice in salvation.

Salvation

Salvation in religious contexts refers to the deliverance from sin and its consequences, achieved through faith or divine means in various faith traditions.

Dorothea Dix

An American activist who, in the 19th century, led efforts to change the treatment of the mentally ill and to reform prisons in the U.S.