Refer to Figure 7-4. With insurance and a third-party payer system, what price do consumers pay for medical services?

The short run in macroeconomics is the period in which

A) prices change significantly. B) the demand curve is vertical. C) no contracts or agreements exist to fix prices. D) demand determines output.

Constant returns to scale exist when long-run average costs:

A. decrease as output is increased. B. increase as output is increased. C. remain constant as output is increased. D. None of the statements is correct.