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Two part Question If the original price of medical care (with no insurance) equal $1,000, the...


Two part Question
If the original price of medical care (with no insurance) equal $1,000, the quantity demanded = 10. If insurance (Policy X) is provided, out of pocket drops to $400. Also the quantity of medical care that will be demanded rises to 40. What is the coinsurance rate (or share of the policyholder)?
10%
20%
30%
40%
None of the above
4.) what is the value of social loss due to insurance?
$18,000
$36,000
$600
$60

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