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The following questions test your knowledge of the concept of adverse selection.  a. In adverse selection models, different individuals have different probabilities of falling ill. Why can’t the insurer set premiums proportionately to this probability of illness, e.g. high premium plans to frail individuals, low premium plans to healthy individuals? b. Consider two people with the same risk aversion. Is a person with higher probability of illness willing to pay more or less for insurance?  c. Consider two people with the same probability of illness. Is a person with higher risk aversion willing to pay more or less for insurance?   d. Suppose everyone has the same level of risk aversion. What will be the shape of the marginal cost faced by the insurer?  e. Suppose everyone has varying levels of risk aversion. Under what condition will the marginal cost curve faced by the insurer be upward sloping? 

A consumer’s demand for medical service is as follows:

When 4 moles of aluminum are allowed to react with an excess of chlorine gas, Cl2, how many moles of aluminum chloride are produced?2Al + 3Cl2 → 2AlCl3

A gas at 5.00 atm pressure was stored in a tank during the winter at 5.0 °C. During the summer, the temperature in the storage area reached 40.0 °C. What was the pressure in the gas tank in the summer, if volume and amount of gas do not change?

Cook’s unwillingness to respect the knowledge of local, indigenous peoples wherever he traveled set him apart from other explorers of the time.

According to the video, all of the following are true of Cook’s map of New Zealand EXCEPT:

In sixteen years of marriage, James Cook and his wife spent a total of just four years together.

Within a hundred years of European colonization in Africa, African people began organizing and resisting.

The only two countries to remain uncolonized by European powers during the Scramble for Africa were                  1                   and                           2                         . (Spelling and capitalization count. Only enter the names of the country, properly spelled, with the first letter capitalized. Do not add any additional words or punctuation.)   [1] [2]  

After 1880, Angola was ruled by