How does the pricing of medical care in the United States affect the quantity consumed?
Please provide the best answer for the statement.
Health insurance pays most of the cost of medical care for individuals. Most individuals with health care coverage wind up paying only 20 to 30 percent of the full cost of such care. Thus, the price of medical care to the individual consumer comes at a significant discount. This “lower” price for the consumer encourages them to consume more medical care than they otherwise would if they paid the full cost for treatment.
You might also like to view...
A general-equilibrium analysis of the impact of a tax on the peanut butter market would include an investigation of the impacts in
A) the television market. B) the coffee market. C) the salsa market. D) the jelly market.
Over the past several years, the earnings gap between high-skilled and low-skilled workers has widened because (i) international trade has altered the relative demand for skilled and unskilled labor. (ii) changes in technology have altered the relative demand for skilled and unskilled labor. (iii) the return to education for men has decreased, whereas the return to education for women has
increased. a. (i) only b. (iii) only c. (i) and (ii) only d. (i), (ii), and (iii)