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

Author Question: Which of the following would cause the equilibrium price of apple juice to decrease and the ... (Read 92 times)

haleyc112

  • Hero Member
  • *****
  • Posts: 600
Which of the following would cause the equilibrium price of apple juice to decrease and the equilibrium quantity of apple juice to increase?
 
  A) a decrease in the price of apples
  B) an increase in the price of orange juice, a substitute for apple juice
  C) an increase in the price of apples
  D) a decrease in the price of granola bars, a complement for apple juice

Question 2

Refer to Figure 7-6. Answer the following questions:
 
  1. What would be the equilibrium price and quantity if consumers had to pay the full price of medical services?
  2. With insurance acting as a third-party payer, what price will consumers pay for medical service?
  3. With insurance acting as a third-party payer, what price will doctors receive for medical service?
  4. With insurance acting as a third-party payer, what will be the equilibrium quantity of medical services?
  5. With insurance acting as a third-party payer, what will be the value of the deadweight loss?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

juiceman1987

  • Sr. Member
  • ****
  • Posts: 316
Answer to Question 1

A

Answer to Question 2

1. 50; 400
2. 25
3. 70
4. 600
5. 4,500




haleyc112

  • Member
  • Posts: 600
Reply 2 on: Jun 29, 2018
Excellent


elyse44

  • Member
  • Posts: 319
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

For a complete list of videos, visit our video library