The amount consumers spend on health care

Reference no: EM13260296

One way to reduce the amount consumers spend on health care is to raise the price of health care by increasing the health insurance copayment (i.e., the portion of the price patients must pay themselves). At current copayment levels, if the price elasticity of demand for visits to see the doctor is -0.25, by what percentage will the quantity demanded of doctor visits decrease if the copayment is raised from 20 percent to 25 percent? (Be careful, the percentage change in price is not 5 percent in this problem.)

Reference no: EM13260296

Questions Cloud

What is the particles velocity given time : A 500g particle has velocity vx = -5.0m/s at t = -2s. Force Fx = (4-t^2)N is exerted on the particle between t = -2s and t = 2s. What is the particle's velocity at t = 2s

Determine the mass of the volleyball : A member of the volleyball team spikes the ball. During this process, she changes the velocity of the ball from 3.5 m/s, determine the mass of the volleyball

What are your views of the soul and death : What are your views of the soul and death and how are they different or similar to the catholic view?

Where is the resulting image located : An object is 12.0 cm to the left of a thin, diverging lens that has a focal length of magnitude 15.5 cm. Where is the resulting image located

The amount consumers spend on health care : One way to reduce the amount consumers spend on health care is to raise the price of health care by increasing the health insurance copayment

Calculate the net resistance of the circuit : four resistors and a capacitor are connected to an 18 v battery with negligible internal resistance, calculate the net resistance of the circuit

Explain sample of a compound of carbon hydrogen and sulfur : When a 0.6333-g sample of a compound of carbon, hydrogen and sulfur was burned in excess oxygen, 0.9272 g CO2, 0.3795 g H2O and 0.6749 g SO2 were obtained. In a separate experiment, it was found that, for fixed temperature and pressure, a 0.100 L ..

What is the percentage price change of these bonds : Bond J is a 5 percent coupon bond. Bond K is a 11 percent coupon bond. Both bonds have 13 years to maturity, make semiannual payments, and have a YTM of 8 percent.

What is the dissapative work done on the sand : A 50 kg bag of sand ar 25 degree C falls 10 m onto the pavement and comes to an abrupt stop. What is the dissapative work done on the sand

User Account

All Pages