This topic contains a solution. Click here to go to the answer

Author Question: Which of the following statements about health care is true? a. The demand for health care is ... (Read 77 times)

jrubin

  • Hero Member
  • *****
  • Posts: 552
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Pswine

  • Sr. Member
  • ****
  • Posts: 328
Answer to Question 1

a

Answer to Question 2

d




jrubin

  • Member
  • Posts: 552
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


irishcancer18

  • Member
  • Posts: 310
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

For a complete list of videos, visit our video library