What percentage will the quantity demanded of doctor visits


One way to reduce the amount consumers spend on health care is to raise the price of health care by increasing the health insurance copayment. If the price elasticity of demand for visits to see the doctor is -0.25 at current copayment levels, by what percentage will the quantity demanded of doctor visits decrease if the copayment is raised from the 20 percent to 25 percent?

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Macroeconomics: What percentage will the quantity demanded of doctor visits
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