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Calculate the price elasticity of demand for healthcare in Japan using on data from year 2000. Region Outpatient visits Price/ visit Tokyo 1.0/ month 30 Hokkaido 1.2/ month 15

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Calculate the price elasticity of demand for healthcare in Japan using on data from year 2000.

Region	Outpatient visits	Price/ visit
Tokyo	1.0/ month	30
Hokkaido	1.2/ month	15

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