5. (20 points] A consumer's demand for a medical service is as follows: Q = 100 - P where P is the out-of-pocket price she actually faces. Assume this medical service has a market price of $70. She is considering four different insurance options: no insurance, full insurance, a 50% coinsurance plan, and a copayment plan with a $25 copay (meaning her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q). (a) (5 points) Calculate quantity under each insurance plan. (b) 15 points) On a separate graph, draw four different demand curves under each insurance plan and labeled it as D1, D2, D3, and D4. (c) (5 points) Show the deadweight loss under each insurance scheme on your diagram and explain. (d) (5 points) Now calculate the dead weight loss under each insurance option. 5. (20 points] A consumer's demand for a medical service is as follows: Q = 100 - P where P is the out-of-pocket price she actually faces. Assume this medical service has a market price of $70. She is considering four different insurance options: no insurance, full insurance, a 50% coinsurance plan, and a copayment plan with a $25 copay (meaning her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q). (a) (5 points) Calculate quantity under each insurance plan. (b) 15 points) On a separate graph, draw four different demand curves under each insurance plan and labeled it as D1, D2, D3, and D4. (c) (5 points) Show the deadweight loss under each insurance scheme on your diagram and explain. (d) (5 points) Now calculate the dead weight loss under each insurance option