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Business, 11.03.2020 21:27 jdto8

The price elasticity of demand for routine health care has been estimated as –0.17. Suppose this is true, and consider a common insurance plan that switches from covering 80% of all medical expenses to covering 90% of all medical expenses. If an individual spent $1,000 (before insurance reimbursement) with each policy, by how much would the individual’s quantity demanded increase (in percentage terms)?

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The price elasticity of demand for routine health care has been estimated as –0.17. Suppose this is...
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