Average visits per week equal 640 when the copayment is $40 and 360 when the copayment rises
Question:
Average visits per week equal 640 when the copayment is $40 and 360 when the copayment rises to $60. Calculate the percentage change in visits, percentage change in price, and price elasticity of demand.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
To calculate the percentage change in visits percentage change in price and the price elasticity of ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Average visits per week equals 640 when co-pay is $40 and 360 when co-pay is $60. Calculate the percent change in visits, percentage change in price, and price elasticity of demand using 640 and $40...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
Write a Digraph client TransitiveClosure whose constructor takes a Digraph as an argument and whose method isReachable (v, w) returns true if there exists some directed path from \(v\) to \(w\), and...
-
In your judgment, what are the motivations for two M&As currently in the news?
-
In a simple regression model, is it possible that all the actual Y values would lie above or below the true regression line? Explain.
-
Redesign the fractionator of Example 6.8 for a reflux ratio that is twice the minimum. Determine the diameter of the tower, the height of packing in the stripping and rectifying sections, and the...
-
Mary Coleman opened Mary's Maids Cleaning Service on July 1, 2014. During July, the company completed the following transactions. July 1 Stockholders invested $15,000 cash in the business in exchange...
-
What is the binary pattern represented by the following Differential Manchester encoding:
-
Per capita income in the county was $45,000, and physician visits averaged 5.0 per person per year. Per capita income has risen to $49,500. The income elasticity of demand for visits is 0.4. By what...
-
Sales were 4,000 at a price of $200 but fell to 3,800 when the price was increased to $220. Calculate the percentage change in sales, the percentage change in price, and the price elasticity of...
-
Decide whether each relation defines a function. {(2, 4), (0, 2), (2, 6)}
-
RFC Corp. has announced a $1.32 dividend. If RFCs price last price cum-dividend is $13.21, what should its first ex-dividend price be (assuming perfect capital markets)?
-
Do you agree that most employers probably want to obey the Americans with Disabilities Act but dont know exactly what they are required to do under the law? Do you think that most employers would...
-
ABC Corporation announced that it will pay a dividend to all shareholders of record as of Monday, April 2, 2012. It takes three business days of a purchase for the new owners of a share of stock to...
-
Candy making is a fun business, and so it is no surprise that it is fun to work at the Jelly Belly Candy Company of Fairfield, California. Although this company has cheesecake, buttered popcorn,...
-
During 2018, Toyota Motor Company shares went from 7,500 to 6,500, while paying a dividend of 220. At the same time, the exchange rate went from $1 = 113 to $1 = 109. a. What was the total dollar...
-
If a Sony television costs $500 in the United States, what do you think it should cost in Japan? What are some reasons that your price might not be right?
-
Outline a general process applicable to most control situations. Using this, explain how you would develop a system to control home delivery staff at a local pizza shop.
-
If your interest rate is 8%, what is the expected value of the present worth of the "extra" insurance payments in Problem 1O-9?
-
A decision has been made to perform certain repairs on the outlet works of a small dam. For a particular 36-inch gate valve, there are three available alternatives: (a) Leave the valve as it is. (b)...
-
A man went to Atlantic City with $500 and placed 100 bets of $5 each, one after another, on the same number on the roulette wheel. There are 38 numbers on the wheel and the gaming casino pays 35...
-
Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal...
-
Today the Atlantic Ocean is about 5,700 km wide at the latitude of Boston. At one time, however, there was no Atlantic Ocean because the east coast of the United States and the northwest coast of...
-
Moore Corp. has accumulated depreciation balances for book and tax purposes at the beginning and end of the current year as follows: Book Accumulated Depreciation (S) Tax Accumulated Depreciation (S)...
Study smarter with the SolutionInn App