Refer to the Article Summary. Assume that foreign governments begin to publicize their existing medical services to American medical tourists and more Americans consider hip-replacement surgery to improve their quality of life.
What will happen in the market for hip-replacement surgery as a result of these two factors?
A) Demand will increase, but these two factors will not shift the supply curve.
B) Demand will increase and supply will decrease.
C) Supply will increase, but these two factors will not shift the demand curve.
D) Demand and supply will both increase.
Question 2
The ________ production points on a production possibilities frontier are the points along and inside the production possibilities frontier.
A) productively efficient B) allocatively efficient
C) attainable D) unattainable
Graphic summary of the scientific method.
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Summary of Single Variable Discrete Models