We have read that the uninsured and the insured behave differently in regard to medical services. Suppose that the insured have a demand curve that can be written as Q = 100 - P, where Q is the quantity of medical services, and P is the price. Suppose further that the uninsured have a demand curve that can be written as Q = 100 - 2P.
i. If the price of each medical service is $10, how much will the insured and the uninsured each demand?
ii. If 50 units of medical services are used, what will the price be for the insured and uninsured?