Suppose the demand for Prescription Opioid X is described by Q=2002P, and the drug's list price is $100 for a monthly prescription. a. Draw the demand curve for the drug and calculate the quantity demanded under no insurance. 1. b. Draw the demand curve for the drug and calculate the quantity demanded under full insurance. What is the social loss under full insurance? After doing the calculations, explain in words why this social loss occurs. 1. c. Draw the demand curve for the drug and calculate the quantity demanded under an insurance plan with 20% coinsurance. What is the social loss under this insurance plan? Explain in words how this social loss under this plan relates to the social loss under the full insurance plan, and explain why they are different. 1. Suppose the demand for Prescription Opioid X is described by Q=2002P, and the drug's list price is $100 for a monthly prescription. a. Draw the demand curve for the drug and calculate the quantity demanded under no insurance. 1. b. Draw the demand curve for the drug and calculate the quantity demanded under full insurance. What is the social loss under full insurance? After doing the calculations, explain in words why this social loss occurs. 1. c. Draw the demand curve for the drug and calculate the quantity demanded under an insurance plan with 20% coinsurance. What is the social loss under this insurance plan? Explain in words how this social loss under this plan relates to the social loss under the full insurance plan, and explain why they are different. 1