(hand write) I just need you to solve E if you have to do only one question that is listed please do E!!!! 15. Fun with cost-sharing. An important distinction in health insurance is between the list price (P) andout-of-pocket price (Pp) of a medical good or service. The list price is the official price that the providercharges the insurance company, while the out-of-pocket price is the price that the insurance customerfaces. Sometimes, the out-of-pocket price depends on the list price.a. Draw a set of axes with list price P on the y-axis and quantity Q on the x-axis (you will want to make yourgraph nice and big, because we will be adding several demand curves).b. Suppose a consumer's demand for a particular medical procedure is as follows: Q = 100 - Pp. Draw herdemand curve in PL - Q space under the assumption of no insurance and label it D1. You will have to thinkabout the relationship between PL and Pp to draw it correctly.c. Now assume the same consumer is fully insured. Think about how this affects the relationship between PLand Pp and draw a full-insurance demand curve in PL - Q space. Label this curve D2.d. Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurancepays 50% of all medical expenses. Consider again the relationship between PL and Pp and plot acoinsurance plan demand curve in PL -Q space. Label this curve D3.e. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurancepays all expenses above and beyond her copayment of S25 for each unit of Q. Consider again therelationship between PL and Pp and plot a copayment-plan demand curve in PL - Q space. Label this curveD4. (need answer for section "d & e " only)

Your costs for health insurance aren't repaid by protection. Out-of-pocket costs incorporate…

e. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of S25 for each unit of Q. Consider again the relationship between PL and Pp and plot a copayment-plan demand curve in PL - Q space. Label this curve (peed answer for section "d 8 e"oply)

e. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of S25 for each unit of Q. Consider again the relationship between PL and Pp and plot a copayment-plan demand curve in PL - Q space. Label this curve (peed answer for section "d 8 e"oply)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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