If a hospital knows that an insurance company will pay for most of a patient's bill, the hospital has more of an incentive to require additional medical procedures and tests, even if the patient may not require them. This is an example of

If a decrease in price increases total revenue, what can you determine about the elasticity of demand for the good?

What will be an ideal response?

Why does minimum wage affect teenagers more negatively than other age groups?

a. They are too young to be hired for minimum-wage jobs. b. They are not experienced enough to get minimum-wage jobs. c. They are choosy about the jobs they take, so they turn down minimum-wage work. d. They prefer focusing on school than work that pays a minimum wage.