Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 12, 2024

Explain the difference between a stop loss and a deductible. Let the demand curve for an individual be x m = 30 p m .

Explain the difference between a "stop loss" and a "deductible." Let the demand curve for an individual be x_m = 30 p_m. Suppose all doctors charge $10 per unit of care consumed. Let there be a deductible of $100 and a stop loss of $200. Let the coinsurance rate be 0.5. What is the effect of such insurance on the demand for medical care?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Authors: N. Gregory Mankiw, William M. Scarth

5th Canadian Edition

1464168504, 978-1464168505

More Books

Students also viewed these Economics questions

Question

★★★★★

The following transactions took place in ABBA Limited in 2015. Opening Inventory Purchase #1 Purchase #2 Purchase #3 Sales 2,000 units @ $0.50 1,000 units @ $2.00 500 units @ $1.00 1,000 units @...

Answered: 1 week ago

Question

★★★★★

What is the journal entry that is recorded in the books of the investor when the equity shares against ADRs are sold in the local stock exchange?

Answered: 1 week ago

Question

★★★★★

=+c) In what month of the year are gas prices highest?

Answered: 1 week ago

Question

★★★★★

1. Are the book rates of return reported in Tables 5.1 and 5.2 useful inputs for the capital investment decision? 2. Calculate NPV and IRR for each process. What is your recommendation? Be ready to...

Answered: 1 week ago

Question

★★★★★

Write the code for the printInt function under the printInt label to make the program work to print the following Looping : , loop counter is : 0 Looping : , loop counter is : 1 Looping : , loop...

Answered: 1 week ago

Question

★★★★★

Salt marshes serve as nurseries for over half of the commercially important fish in the southeastern United States

Answered: 1 week ago

Question

★★★★★

A 6 in. sch 40 pipeline carries a petroleum fraction (viscosity $15 \mathrm{cP}, \mathrm{SG} 0.85$ ) at a velocity of $7.5 \mathrm{ft} / \mathrm{s}$, from a storage tank at $1 \mathrm{~atm}$ pressure...

Answered: 1 week ago

Question

★★★★★

A 2 in. sch 40 pipe carries $\mathrm{SAE} 10$ lube oil at $100^{\circ} \mathrm{F}(\mathrm{SG}=0.928)$. The flow rate may be as high as $55 \mathrm{gpm}$, and you must select an orifice meter to...

Answered: 1 week ago

Question

★★★★★

Two items both have reorder points with service levels of 99%. One of the items is ordered 10 times a year, and the other item is ordered 20 times a year. Do these two items have the same overall...

Answered: 1 week ago

Question

★★★★★

(a) Find one more nonzero term for each of the solutions y 1 (x) and y 2 (x) in Example 8. (b) Find a series solution y(x) of the initial-value problem y'' + (cos x)y = 0, y(0) = 1, y'(0) = 1. (c)...

Answered: 1 week ago

Question

★★★★★

Draw a schematic diagram of I.C. engines and name the parts.

Answered: 1 week ago

Question

★★★★★

Which of Rogers's Five Key Innovation Attributes refers to the perceived difficulty or ease of understanding and using the innovation? Relative Advantage Compatibility Complexity Observability

Answered: 1 week ago

Question

★★★★★

11. In what environment or contexts is it the value you want others to associate you with that the value can best be expressed in? Do you seek out these contexts to learn?

Answered: 1 week ago

Question

★★★★★

2. In this chapter, the reader should reflect on the following concepts: action strategies, values and criteria.

Answered: 1 week ago

Question

★★★★★

1. Too understand personal motivation.

Answered: 1 week ago

Previous Question Next Question