Problem
Case Study: The Marginal Value of Free Medical Care
Medicare recipients pay a monthly premium for coverage, must meet an annual deductible, and have a co-payment for doctors' office visits. President George W. Bush introduced some coverage of prescription medications (prior to that, there was none). What impact would an increase in the monthly premium have on their consumer surplus? What would be the impact of a reduction in co-payments? What is the impact on consumer surplus of offering some coverage for prescription medication?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.