Is there a need for free urgent care clinics in downtown detroit? What is the evidence that this is a need? Are there similar products or substitutions available and is it possible to observe prices of similar products? Does demand appear to be relatively elastic?

What is a real-world question involving price elasticity

Which price elasticity of demand values or range of values do we see most frequently in the real world?

The effect of health insurance drug coverage on prescription drug spending depends on the elasticity of demand for prescription drugs with respect to price. True or false.

Draw a graph of a perfectly inelastic demand curve. Use the line drawing tool to graph a perfectly inelastic demand curve. Properly label this line. Carefully follow the instructions above, and only draw the required objects. The drug insulin is one example of a product that would have a perfectly inelastic demand curve. Quantity

if there is a decrease incomes of consumers,demand for head&shoulder shampoos will increase. True or False?

Is elasticity important in the analysis of the market? Why?

Use a graph to illustrate how the following changes would affect the demand curve for inpatient services at a hospital in a large city.                            a. Average real income in the community increases. b. A number of physicians in the area join together and open up a discount-price walk-in clinic; the cross-price elasticity of demand between physician services and inpatient hospital services is –0.50.

under what circumcstances can you advise one to use the percentage method and the mid point method in measuring price elasticity of demand?

Please answer the following questions thoroughly: Some argue that the price elasticity of demand can be used to determine whether a good or service is a luxury or a necessity. In medical care, a procedure with an elastic demand would be considered optional, or elective, and a procedure with an inelastic demand would be a medical necessity. 1) Should planners use price elasticity of demand as a guide to defining services that are medically necessary? 2) What are the advantages of such a classification scheme? 3) What are the drawbacks?