Economics For Healthcare Managers
4th Edition
ISBN: 9781640550483
Author: Robert H. Lee
Publisher: Health Administration Pr
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The consumer demand equation for tissues is given by
q = 11,664 −216 p +p2,
where p is the price per case of tissues and q is the demand in weekly sales.
Determine the price elasticity of demand E when the price is set at $24. (Round your answer to three decimal places.)E =
Assume a consumer's demand for a medical service is as follows:
Q = 100 - Pp
where Pp is the out-of-pocket price she actually faces. She is considering four
different insurance options: uninsurance, full insurance, a 50% coinsurance
plan, and a copayment plan with a $25 copay.
Assume this service has a list price of PL = $70. Calculate Q under each insurance plan.
Please fill in the final answer without showing the middle steps (a number only, without any extra
space, symbol, word, etc.)
If the customer is uninsured, Q=
• If the customer is fully insured, Q=
• If the customer has a 50% coinsurance plan, Q=
• If the customer has the copayment plan, Q=
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Economics For Healthcare Managers
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