Graphing Demand Curves for Doctor Visits
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Suppose that in the absence of insurance, the inverse demand for office doctor visits is given by the equation P1 = 150 - 30Q. Graph the demand curve.
Graph the demand curve when the person has health insurance with a coinsurance rate of 25%.
What is the demand for visits with and without insurance when doctors receive $60/visit?
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Solution Summary
Given a person's demand curve for doctor's visits, this solution shows how to derive the person's demand curve when the person has health insurance with a coinsurance rate of 25%, and how to graph both demand curves.
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>Graph the demand curve.
See the attached file. When the person has no insurance, the demand equation is P = 150 - 30Q
>Graph the demand curve when the ...
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