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

Estimates of price elasticity typically range between -0.1 and -.75 with hospital services at the lower end and elective services at the upper end. What do these estimates mean?

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.

Can you show or explain how elasticity was calculated?

looking for help finding the elasticity of this problem, and if it would be considered Unit elastic, price quasi-elastic, price inelastic, or price elastic. Thank you! The following demand and supply functions for hair cuts will be used for questions 1-4.  QD=300-6P QS=2P-20 Where P is in dollars and Q is the number of hair cuts. Calculate equilibrium price and quantity and the price elasticity of demand at equilibrium.   P* = 40 $   Q* =  60 hair cuts   ED =

The consumer demand equation for tissues is given by q = (110 - p)2, where p is the price per case of tissues and q is the demand in weekly sales. (a) Determine the price elasticity of demand E when the price is set at $26. (Round your answer to three decimal places.) E-0.619 Interpret your answer. The demand is going down by 0.619 % per 1% increase in price at that price level. (b) At what price should tissues be sold to maximize the revenue? (Round your answer to the nearest cent.) $37 x (c) Approximately how many cases of tissues would be demanded at that price? (Round your answer to the nearest whole number.) 5329 X cases per week