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Explain using a diagram why when people have medical insurance the PED for medical treatment is likely to be very low whilst the YED is likely to be high

The price elasticity of demand, which measures the sensitivity of demand when price changes, for medical treatment is often low when people have medical insurance since the insurance company will ...

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Answered by Timothy W. Economics tutor
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What is Pythagoras' Theorem and how is it used in exam questions?

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