1. Consider the following consumer demand for medic-a1 care. Demand 'for Visits a) If the price of a medical Visit is $300, calculate the equilibrium number of Visits, and total expenditures. b) Suppose that the consumer purchases an insurance policy that allows her to pay a 25% coinsurance rate. Calculate the new equilibrium number of Visits and the total expenditures. c) Calculate the expenditures by the insurer. d) Calculate the increased well-being to the consumer due to the changed number of Visits. e) Calculate the \"loss" to society brought about by moral hazard. Explain Why it is a loss