Suppose the market for hospital outpatient treatment is in equilibrium when a price ceiling is set below the equilibrium price. What do you expect to happen?
a. A surplus will develop.
b. A shortage will develop.
c. Quantity demanded will decrease.
d. The number of outpatient visits will rise.
e. The demand for outpatient procedures will fall.
B
You might also like to view...
If the change in the y-axis variable is 4 and the change in the x-axis variable is 2, the slope of this line is 1/2
Indicate whether the statement is true or false
Suppose Bev's Bags makes large handbags and small handbags. They sold 70,000 large bags for $45 each and 25,000 small bags for $15 each. If the company had total costs of $2,000,000, what was the profit for this company?
A. $1,525,000 B. $3,525,000 C. $375,000 D. $850,000
What accounts for specialization?
a. People specialize in the activity in which their opportunity costs are at a maximum. b. People specialize in the activity in which their opportunity costs are lowest. c. People do not specialize in any activity. d. People specialize in the activity that pays the highest wage. e. People specialize in the activity that they enjoy the most, no matter what the salary is.
Refer to Figure 9-3. What is the area that represents the deadweight loss as a result of the quota?
A) E + M B) G + H C) G + H + I + J D) E + I + J + M