Which of the Following Would Result in an Increase in Supply

question 102

Multiple Choice

Which of the following would result in an increase in supply?

• A) A reduction in the premiums firms pay for insurance.
• B) A reduction in the quality of technology used by firms.
• C) An increase in demand.
• D) An increase in consumers' incomes.
• E) An increase in the population of consumers.

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Definitions:

Public Health Insurance

Government-provided insurance programs designed to offer health coverage to eligible individuals, aiming to improve accessibility and affordability.

Ration Health Care

The controlled distribution of scarce healthcare resources, where decisions are made regarding who gets what level of care based on various factors, often due to limitations in resources or funding.

Expanded Coverage

The extension of insurance or service benefits to include more conditions, individuals, or circumstances than originally covered.

Equilibrium Price

The equilibrium price is the price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.