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Medicare recipients pay a monthly premium for coverage, must meet an annual deductible, and have a copayment for doctor's office visits. Few years ago, 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 or economic well being? What would be the impact of a reduction in copayments?

Microeconomics, Economics

  • Category:- Microeconomics
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