Using the Getzen, Thomas, E. Health Economics and Financing. 5th edition, NY: Wiley, 2013

Please answer the following questions

{elasticity} If the price of office visits increases from $20 to $22 and the number of visits per family per year declines from 12 to 10, what is the price elasticity of demand?

{elasticity} If the price of a postoperative follow-up visit is reduced from $40 to $30, the number of patients returning for follow-up increases from 18 to 25.

a. What is the marginal revenue (MR)?

b. What is the price elasticity?

c. What would your estimate of MR and price elasticity be if the quantity demanded

moved from 18 to 20 (instead of 25)?