Refer to the supply and demand data for a certain elective surgical procedure. If suppliers provide the quantity of health care demanded and insurance pays two-thirds of the equilibrium price, the immediate price to the consumer and quantity of health care demanded would be:
A. $4,000 and 10,000.
B. $3,000 and 7,000.
C. $2,000 and 11,000.
D. $1,000 and 16,000.
D. $1,000 and 16,000.
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Answer the following statement true (T) or false (F)
A portfolio’s performance is its yield to the holder.
Answer the following statement true (T) or false (F)
A ____ total cost function implies that marginal costs ____ as output is increased
a. linear; increase linearly b. quadratic; are constant c. cubic; increase linearly d. linear; are constant e. none of the above
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