Answer:
Unitary
Explanation:
Price elasticity of demand is demand is defined as a measure of how sensitive quantity of a product demanded is sensitive to changes in price.
Usually an increase in price results in a reduction in quantity demanded, and reduction in price results in an increase in quantity demanded.
Using the midpoint method of calculating price elasticity
Price elasticity = (change in quantity demanded) ÷ (change in price)
Change in quantity demanded = (1000-1250)/(100+1250)/2
Change in quantity demanded = -0.2222
Change in price = (5-4) / (5+4)/2
Change in price = 0.2222
Price elasticity = -0.2222 ÷ 0.2222 = -1
Therefore price elasticity is unitary.
Unitary elasticity means that a a percentage change in price results in equal percentage change in quantity demanded
In this case, as long as the patient has met their annual deductable and out of pocket max, they will not have to pay for the visit themselves. Their insurance will take over and pay for the service. Since Medicare allows $95 for the service, they will post $95 as paid to the patients account.
Answer:
see below
Explanation:
Personal income is the total earning an individual gets from wages, investments, bonuses, dividends, profits, or other ventures. It is the sum of a household income. Personal income is calculated per period, usually one year.
Economic conditions refer to the prevailing state of a country or region's economy. Economic conditions are ever-changing and are influenced by business cycles of expansions and contraction, government fiscal and monetary policies, macroeconomic factors, and global factors. Governments and investor use indicators to tell the state of the economy
Economic conditions impact people's and business income. Government policies and global economics influence the level of economic activities. The expansion period has increased economic activities are leading to increased incomes. At contraction, business activities decline, resulting in reduced income.
Monopolies engage in price discrimination possible because they can get away with it.
A monopoly is where only one seller sells a particular good. Because of this, the seller has the power to dictate the price of the good to the extend of giving the good the highest price possible that a consumer is willing to pay.
Consumers must pay the price of said product because they can not get the same product from any other seller.
Answer:
1. Nature of commodity
2. Availability of substitutes
3. Income level
4. Postponement of consumption
5. Number of uses
6. Share in total Expenditure
7. Time period
Explanation:
