You estimate that the price elasticity of demand for clinic visits is -0.25. You anticipate that a major insurer will increase the copayment from $20 to $25.This insurer covers 40,000 of your patients, and those patients average 2.5visits per year. What is your forecast of the change in the number of visits?

Answer rating: 100% (QA)

price elasticity of demand change in demandchange in price ... View the full answer