question archive One way to encourage people to spend more on preventative health care is to reduce the price of health care to consumers by decreasing health insurance copayment
One way to encourage people to spend more on preventative health care is to reduce the price of health care to consumers by decreasing health insurance copayment
Subject:EconomicsPrice:2.88 Bought3
One way to encourage people to spend more on preventative health care is to reduce the price of health care to consumers by decreasing health insurance copayment. At current copayment levels, if the price elasticity of demand for visits to see the doctor is -0.75, by what percentage will the quantity demanded of doctor visits increase if the copayment is decreased from $50 to $25 a visit? Explain.
