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18-22 answers and explanation as to why and how! Thank you! d. increased; $8,000; $10,000 18. In the gure above, the decreased coinsurance rate leads

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18-22 answers and explanation as to why and how! Thank you!

image text in transcribed
d. increased; $8,000; $10,000 18. In the gure above, the decreased coinsurance rate leads to a a. deadweight loss of $20 b. deadweight loss of $100 0. deadweight loss of $800 (1. deadweight loss of $1,200 19. When coinsurance is extended to a market with upward sloping supply, the welfare losses per unit increase because: a. more units are sold. b. more units are demanded. (3. resources are supplied that would not otherwise have been supplied. d. Answers (b) and (c) are correct. 20. Suppose that the demand for labor is summarized by the equation below which relates wage (price of labor) to quantity of labor demanded: wn=4010LD. The supply of labor is summarized by the equation below which relates wage to quantity of labor supplied: 103 = 10 + 5 Ls. The equilibrium wage is _ and the equilibrium labor force is : a. $5; 4 b. $10; 3 6. $15; 3 d. $20; 2 21. Suppose that the employer in the previous question provides an insurance benet at a cost 01 $2 per hour of labor. It is worth $1 per hour to the workers. The new equilibrium gross wage (money wage + benet) will be and the new equilibrium employment will be a. $20.7;'1.93. b. $20.7; 2. 0- $19-7; 1.93- d. $19.7; 3

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