Calculate the individual annual out-of-pocket

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Suppose the annual number of doctor visits per year (QDD) is related to the price per doctor visit (P) by the relation Q = 5 - 0.025P. When the price is RM80 per visit, how many visits are there per year? Illustrate your answer in a graph. How much are expenditures on doctor visits? Suppose an individual obtains insurance. There is no deductible, and the patient's co-payment is $40 per visit. How many visits to the doctor occur now? Show this in your graph. Calculate the individual's annual out-of-pocket costs, the amount paid by the insurance company, and total expenditures on doctor visits when there is insurance.

Reference no: EM132766772

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