What would happen in the market for knee replacement surgery if insurance companies started to cover a smaller portion of the cost of the surgery?
A) Demand will decrease, but this will not shift the supply curve.
B) Supply will decrease, but this will not shift the demand curve.
C) Demand and supply will both decrease.
D) Demand will decrease and supply will increase.
Answer: A
Economics
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A) both the short and long run B) neither the short nor the long run C) short run, but not the long run D) long run, but not the short run
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Which of the following is not part of U.S. GDP?
a. the value of a Toyota imported from Japan b. the value of a Ford Mustang produced in the United States and sold in Canada c. the salary of the governor of Minnesota d. the value of a Rhode Island attorney's services
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