Explain the purpose of insurance as a risk management tool, Microeconomics

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Explain the purpose of insurance as a risk management tool

Problem

Explain the purpose of insurance as a risk management tool. In homeowners insurance, how is "loss of use" calculated? How might this information factor into decisions about the policy limits you should carry?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Explain the purpose of insurance as a risk management tool

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Microeconomics: Explain the purpose of insurance as a risk management tool

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