1Suppose patient demand for blood tests at a local hospital to screen for various illnesses is given by Q = 10,000 – 20F, where Q is the number ot…

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1Suppose patient demand for blood tests at a local hospital to screen for various illnesses is given by Q= 10,000 – 20F, where Q is the number ot tests and P is the price of each test in dollars. It costs thehospital a constant $250 to run each test. Assume the market for blood tests is perfectly competitive, so the price the hospital charges for each test is equal to its marginal cost. In that case, the number of1blood tests that will be run at the hospital is answer here l . The deadweight loss that results answer here 1from the hospital administering blood tests in this case is $l [enter only numbers in the blank, and please round to the second decimal place if necessary). 2Consider the hospital from the previous problem. Now suppose that all patients that visit the hospitalhave insurance that covers 90% of the cost of a blood test. In that case, the number of blood tests that will be run at the hospital is am’ here l . The deadweight loss that results from the answer here hospital administering blood tests in this case is $l2 (enter only numbers in the blank. and please round to the second decimal place if necessary}. 3Consider the hospital from the previous problems. Continue to assume that patients have insurancethat covers 90% of the cost of a blood test. However, suppose that, because it helps to detectcommunicable diseases, each blood test that is administered has a positive externality that can bevalued at $50. The deadweight loss resulting from the hospital administering blood tests in this casewill be [size] in size relative to if there were no positive externality associated with the tests {enterjust the word larger, smaller, or identical in the blank).3answer here

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