User Account

All Pages

What will the price be for the insured and uninsured

Assignment Help Microeconomics
Reference no: EM132003641

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: EM132003641

Questions Cloud

Should fountain invest in project horizon : Should Fountain invest in Project Horizon if its objective is to maximize firm value?
Employment insurance alleviates poverty : The extent to which Employment Insurance alleviates poverty and redistributes incomes depends on how the benefits are distributed and how the program is finance
Balance of current liabilities on firm balance sheet : What is the amount of total liabilities and equity that appears on the firm's balance sheet? What is the balance of current liabilities on firm's balance sheet?
Determine the criteria to rank capital budgeting decisions : A description of the important factors, in addition to quantitative factors, that were considered when making this capital budgeting decision.
What will the price be for the insured and uninsured : If 50 units of medical services are used, what will the price be for the insured and uninsured?
Example of one of the five communication corollaries : Give a real-life example of one of the five communication corollaries
What information does ratio analysis provide : What information does ratio analysis provide for meeting the requirements of the case questions? Which ratios are the most important.
Explain six reasons that students drop out of school early : 'Referring to Oreopoulus (2006), outline and explain six reasons that students drop out of school early.'
What factors account for the regional inequality : What factors account for the regional inequality (as measured in GDP) per capita between Germany and Portugal?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd