Refer to Figure 5-3. With insurance and a third-party payer system, what is the amount of the deadweight loss?

By 2012, the poverty line for a typical family of four stood at about $23,250

a. True b. False Indicate whether the statement is true or false

When quantity demanded has increased at every price, it might be because

a. the number of buyers in the market has decreased. b. income has increased, and the good is an inferior good. c. the costs incurred by sellers producing the good have decreased. d. the price of a complementary good has decreased.