Imagine a community with only one insurance company that provides coverage to everyone in that community (a universal insurer). Currently, the payer does not pay anything for physician office visits. However, bowing to intense lobbying pressure, the payer will pay 80% of the cost of these visits effective January 1. Describe the likely effect on demand curves for office visits to a physician as a result. What do you suppose will be the intended and unintended consequences?
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