The rising cost of uninsured patients receiving treatment at hospital emergency rooms is one of the leading causes of the increase in health care spending as a percentage of GDP in the United States

"Crowding out" refers to ...

Select one: a. reduced exports due to rising exchange rates. b. supply-side tax cuts reducing entitlement spending. c. reduced consumption due to increases in marginal tax rates. d. a reduction in the availability of private capital.

Using the figure above, which of the following statements are correct?

i. When 3 haircuts are produced, the firm's ATC is $10. ii. If the firm charges each customer the same price for a haircut, the price of a haircut is $14. iii. The firm is NOT a perfect competitor. A) i only B) ii only C) i and ii D) i and iii E) i, ii, and iii