Recipients of Medicare tend to demand a greater quantity of low-value, high-cost services because

A) the services are readily available.
B) recipients are coerced into demanding such services.
C) the government mandates that they demand such services.
D) the services are heavily subsidized.


D

Economics

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Suppose there are two firms, Boors and Cudweiser, each selling nonalcoholic beer. Suppose Boors and Cudweiser are not viewed as perfect substitutes but rather demand for Boors is QB = 5000 ? 1000PB + 100PC and demand for Cudweiser is QC = 3000 ? 1500PC + 100PB. For simplicity, assume zero marginal costs. Which is the more preferred beer?

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What will be an ideal response?

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Economics