Author Question: Which of the following statements about health care is true? a. The demand for health care is ... (Read 81 times)

jrubin · **on:** Jun 30, 2018

Which of the following statements about health care is true?
a. The demand for health care is inversely related to price.
b. The demand for health care is positively related to price.
c. Healthcare is an inferior good.
d. Health care and health insurance is only provided by the government in the U.S.
e. The supply of health care is inversely related to price.

Question 2

Which of the following occurs when a consumer equilibrium has been achieved?
a. The marginal utility of the last unit purchased is identical for all goods.
b. The price of the last unit purchased is identical for all goods.
c. An equal amount of income is spent on all goods purchased.
d. The ratio of the marginal utility of each good divided by its price is equal across all goods consumed.