1. Given the following two tables: *Provided image of the tables*a.) Calculate the elasticity of demand for health care for Tokyo and Hokkaido separately.b.) Using your estimated elasticities, what would the demand for health care in each prefecture be if the price were raised to 40 ¥ per visit next year (for both prefectures)? Table 2.12: Outpatient utilization Table 2.13: Outpatient utilizationin Tokyo and Hokkaido, 1999.in Tokyo and Hokkaido, 2000.RegionOutpatient visitsPrice/visitRegionOutpatient visits Price/visitTokyoHokkaido 1.5/month1.25/month20¥TokyoHokkaido1.0/month1.2/month30¥10¥15¥

Formula: The elasticity of Demand is =percentage change in quantitypercentage change in price…

Given the following two tables: *Provided image of the tables* a.) Calculate the elasticity of demand for health care for Tokyo and Hokkaido separately. b.) Using your estimated elasticities, what would the demand for health care in each prefecture be if the price were raised to 40 ¥ per visit next year (for both prefectures)?

Given the following two tables: Provided image of the tables a.) Calculate the elasticity of demand for health care for Tokyo and Hokkaido separately. b.) Using your estimated elasticities, what would the demand for health care in each prefecture be if the price were raised to 40 ¥ per visit next year (for both prefectures)?

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter6: Population Health

Section: Chapter Questions

Problem 2QAP

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