Community should pay to acquire the more accurate test

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During an outbreak of disease there is a test that can identify the disease early, saving $10,000 in treatment costs per case identified. This test identifies the disease 70% of the time in those infected and costs $500 per test. Another, more expensive test is available that identifies the disease early 78% of the time. Experts believe that 100 out of 1,000 people to be tested actually have the disease. What is most the community should pay to acquire the more accurate test?

Reference no: EM131391824

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