Warning: foreach() argument must be of type array|object, bool given in /var/www/html/web/app/themes/studypress-core-theme/template-parts/header/mobile-offcanvas.php on line 20

Chapter 30: Q.2 - Critical Thinking Questions (page 686)

Could it be rational for someone to choose to be uninsured and pay an annual $250 penalty? Explain your reasoning.

Short Answer

Expert verified

It will be rational for someone to pay an annual$250penalty

Step by step solution

01

Given Information

Assuming that you owe cash to a clinic or medical services supplier, you might meet all requirements for hospital expense obligation pardoning. Qualification is regularly founded on pay, family size, and different variables

02

Explanation

At whatever year assuming that she gets sick, it is smarter to suffer $250yearly consequences instead of paying $6000. In this manner, it will be levelheaded, as given for the situation study.

Given the sort of protection plans accessible on the lookout, a holder of the plan needs to essentially pay $6000as an underlying sum prior to getting the cash from the insurance agency.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

See all solutions

Recommended explanations on Economics Textbooks

View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free