Question: Panes Unhide Sheet View Workbook Views Show Zoom Wind K24 X V fx A B C D E F G H J K M 3.

 Panes Unhide Sheet View Workbook Views Show Zoom Wind K24 X

V fx A B C D E F G H J K

Panes Unhide Sheet View Workbook Views Show Zoom Wind K24 X V fx A B C D E F G H J K M 3. An individual's demand for physician office visits in a given year is given by, Q = 13 - 0.045P, where Q is the number of office visits and P is the out-of-pocket price paid by the individual for each visit. Assume the market price of an office visit is $240. 10 Use this information to answer the questions below. 11 12 13 14 15 16 + 17 Questions: 18 a. Without insurance, how many office visits will the individual make in one year? (1 pt.) 19 NOTE: Enter a formula to calculate the number of visits, rounding your answer to the nearest whole number. 20 21 22 23 b. Suppose the individual has insurance and pays only a $40 copayment for each visit. 24 How many office visits will the individual make in one year? (1 pt.) 25 NOTE: Again, enter a formula, rounding your answer to the nearest whole number. 26 27

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