ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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K
The marginal cost of health insurance is a constant $8,000 a year and the figure shows
the marginal benefit and willingness and ability to pay curve.
Suppose that the marginal social benefit from insurance exceeds the willingness and
ability to pay by a constant $2,000 per family per year.
If the govemment decides to provide public health insurance (like Canada), what
healthcare fee does it charge to achieve an efficient coverage? How much will taxpayers
have to pay?
12-
10-
a
Premium (thousands of dollars per year)
To achieve the efficient quantity of health insurance, government expenditure to insure
each household is $
Taxpayers have to pay $
billion per year
24
°
10
20
40
D=MB
50
60
Quantity (millions of families insured)
B
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Transcribed Image Text:K The marginal cost of health insurance is a constant $8,000 a year and the figure shows the marginal benefit and willingness and ability to pay curve. Suppose that the marginal social benefit from insurance exceeds the willingness and ability to pay by a constant $2,000 per family per year. If the govemment decides to provide public health insurance (like Canada), what healthcare fee does it charge to achieve an efficient coverage? How much will taxpayers have to pay? 12- 10- a Premium (thousands of dollars per year) To achieve the efficient quantity of health insurance, government expenditure to insure each household is $ Taxpayers have to pay $ billion per year 24 ° 10 20 40 D=MB 50 60 Quantity (millions of families insured) B
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