1. Given the Demand curve schedule below copay 50 $5 $10 SIS Health Economics Assignment 1 (10 points) $20 $25 $30 no of

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1 Given The Demand Curve Schedule Below Copay 50 5 10 Sis Health Economics Assignment 1 10 Points 20 25 30 No Of 1 (42.72 KiB) Viewed 11 times

1. Given the Demand curve schedule below copay 50 $5 $10 SIS Health Economics Assignment 1 (10 points) $20 $25 $30 no of yearly visits to Doctor Z 36 30 24 18 12 6 0 corresponding points on the demand curve A B C D E F G A. Draw the demand curve and label the approximate location of all co-pays and doctor visits as well as the points on the demand curve. (reminder: price is on the vertical axis) B. Solve for the elasticity value at every 2 adjacent points on this demand curve (roundup to 2 decimal places) Solve for the elasticity S0-55 Between A and B $5 to $10 Between B and C $10 to $15 Between C and D $15 to $20 Between D and E $20 to $25 Between E and F $25 to $30 Between F and G C. Approximately between what 2 points do we find unitary elasticity? D. If the doctor currently charges $25, should he/she lower or increase this to raise revenue? E. Given another doctor's (Doctor V) demand curve, while both get 30 visits when they charge $5 as copay, Doctor V gets only 15 average visits from patients. Whose demand curve is steeper? Doctor V or Doctor Z's? F. Solve for the price elasticity of the demand for Doctor V's office visits between prices $5 and $15.