Suppose the marginal cost of an appointment is $100 and the market is perfectly competitive. Answer all of the following
questions
twice: once considering a market without medical insurance and once considering a market with medical insurance.
b. How many physician appointments will the typical patient have each year without and with insurance?
Янират ЦР
100
Physician appointments without insurance:
Physician appointments with insurance:
5
Incorrect
c. How much will the patient pay for physician appointments each year?
500
Patient expenses without insurance: $
500
Patient expenses with insurance: $
Incorrect
Incorrect