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You start an insurance company as your first entrepreneurial venture after graduation. Your main product line...

You start an insurance company as your first entrepreneurial venture after graduation. Your main product line is malpractice insurance for dentists. After exhaustive research, you learn that settling malpractice claims against careful dentists cost $2000 and settling malpractice claims against reckless dentist cost $7,000. Individual dentist know whether they are reckless or careful, and your research shows that approximately 20% of dentists are reckless. How much should you charge for malpractice insurance?

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