Suppose that the market demand for medical care is summarized by the demand function: qd=100 –2p and the market supply is summarized by the supply function: qs = 20 + 2p a. calculate the equilibrium quantity and price, assuming no insurance is available. b. suppose that health insurance is made available that provides for a 20 percent coinsurance rate. calculate the new equilibrium price and quantity. (hint: how does the demand curve change? ) c. calculate the deadweight loss due to this insurance. d. suppose that the coinsurance rate was raised to 50 percent. calculate the new equilibrium price and quantity. (hint: how does the demand curve change? ) e. calculate the deadweight loss due to this insurance. f. how does your answer compare to the deadweight loss in part c?

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks