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    Factors Affecting Insurance Supply

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    How will each of the following affect the supply for insurance:
    a. a larger pool of insured persons
    b. lower administration costs for insurance companies
    c. higher premiums (with no change in risk experience)
    d. a greater degree of risk aversion on the part of insurers

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    a. A larger pool of insured persons would tend to increase the supply for insurance, due to the fact that there will be more insurance providers vying for the patronage of a decreased number of ...

    Solution Summary

    This solution discusses factors affecting insurance supply.