One reason the Medicare system costs so much is
A. the supply of medical services does not respond to price changes.
B. the amount of medical services is determined by the equilibrium of supply and demand.
C. supply and demand analysis does not apply.
D. beneficiaries are entitled to receive services for which the per-unit cost exceeds their own personal out-of-pocket payment.
Answer: D
Economics
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If your planned consumption expenditure is $600 per month and your disposable income is $500 per month, your
A) induced consumption is $600. B) saving is $100 per month. C) dissaving is $100 per month. D) autonomous consumption is -$100 per month. E) autonomous consumption must be zero per month.
Economics
Why is marginal revenue less than price for a monopolist?
What will be an ideal response?
Economics