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Insured and the uninsured demand

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Reference no: EM132007851

We have read that the uninsured and the insured behave differently in regard to medical services. Suppose that the insured have a demand curve that can be written as Q = 100 - P, where Q is the quantity of medical services, and P is the price. Suppose further that the uninsured have a demand curve that can be written as Q = 100 - 2P.

i. If the price of each medical service is $10, how much will the insured and the uninsured each demand?

ii. If 50 units of medical services are used, what will the price be for the insured and uninsured?

Reference no: EM132007851

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