Refer to the diagram. Physicians likely would argue that health care should be provided to patients in:
A. some amount less than Q 1 .
B. amount Q 1 .
C. some amount between Q 1 and Q 2 .
D. amount Q 2 .
D. amount Q 2 .
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For a theme park a two-tier tariff can include a positive admission price and a zero per-ride fee
What will be an ideal response?
Which of the following must occur as a result of ceilings on apartment rents that are set below market clearing rental rates?
A) Property owners respond to the ceilings by increasing maintenance and repairs. B) Property owners respond to the ceilings by constructing new apartment buildings. C) There is a decrease in the quantity of apartments that prospective tenants wish to rent. D) There is a decrease in the quantity of apartments that property owners offer for rent.
As prices rise, people will buy fewer goods and services because:
a. the interest rate has declined. b. aggregate demand has increased. c. the purchasing power of the fixed quantity of money has declined. d. the income of households has increased.
Suppose that the supply of insulin is perfectly elastic and the demand for insulin perfectly inelastic. Then the result of an excise tax would be
a. a significant increase in government revenue and a significant decrease in the quantity consumed. b. a significant decrease in the quantity consumed with no change in government revenue. c. a significant increase in government revenue and no change in the quantity consumed. d. no increase in government revenue and no change in the quantity consumed.