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Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-1260566642 Exercise 11
Suppose that the crop yield of corn farmers in Iowa depends solely on rainfall levels. Also suppose that every part of the state gets approximately the same amount of rain as every other part in any given year. Will the corn farmers of Iowa be able to effectively use pooling to reduce their exposure to risk? Why or why not?
Explanation
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Risk pooling:
Risk pooling refers to th...
Microeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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