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RAND HIE researchers found that, on average, individuals assigned to the 95% coinsurance plan had fewer episodes of inpatient care than those assigned to the 25% coinsurance plan. This inverse relationship between the price (copayment rate) and quantity demanded of inpatient care is summarized in the figure below. Calculate the price elasticity of demand for inpatient care using the Midpoint Method formula. Please round your answer to 2 decimal places. If your answer is negative, make sure to include the sign in your response. nt Rate 95%+ Inpatient Care (0.09, 95%) A Re D Y

RAND HIE researchers found that, on average, individuals assigned to the 95% coinsurance plan had fewer episodes of inpatient care than those assigned to the 25% coinsurance plan. This inverse relationship between the price (copayment rate) and quantity demanded of inpatient care is summarized in the figure below. Calculate the price elasticity of demand for inpatient care using the Midpoint Method formula. Please round your answer to 2 decimal places. If your answer is negative, make sure to include the sign in your response. nt Rate 95%+ Inpatient Care (0.09, 95%) A Re D Y

EBK HEALTH ECONOMICS AND POLICY
EBK HEALTH ECONOMICS AND POLICY
7th Edition
ISBN:9781337668279
Author:Henderson
Publisher:Henderson
Chapter5: Demand For Health And Medical Care
Section: Chapter Questions
Problem 9QAP
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RAND HIE researchers found that, on average, individuals assigned to the 95% coinsurance plan had fewer episodes of inpatient care than those assigned to the 25% coinsurance plan. This inverse relationship between the price (copayment rate) and quantity demanded of inpatient care is summarized in the figure below. Calculate the price elasticity of demand for inpatient care using the Midpoint Method formula. Please round your answer to 2 decimal places. If your answer is negative, make sure to include the sign in your response. nt Rate 95%+ Inpatient Care (0.09, 95%) A Re D Y
Transcribed Image Text:RAND HIE researchers found that, on average, individuals assigned to the 95% coinsurance plan had fewer episodes of inpatient care than those assigned to the 25% coinsurance plan. This inverse relationship between the price (copayment rate) and quantity demanded of inpatient care is summarized in the figure below. Calculate the price elasticity of demand for inpatient care using the Midpoint Method formula. Please round your answer to 2 decimal places. If your answer is negative, make sure to include the sign in your response. nt Rate 95%+ Inpatient Care (0.09, 95%) A Re D Y
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