If an Increase in the Price of Lemonade Causes More

question 112

Multiple Choice

If an increase in the price of lemonade causes more people to sell lemonade, then it can be argued that the price increase

• A)acted as a transfer price.
• B)caused a redistribution of income.
• C)caused a market failure
• D)reduced competition.
• E)acted as an incentive.

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Definitions:

Opportunity Costs

The value of the next best alternative foregone as the result of making a decision.

Health Care Market

The sector of an economy that provides medical services, pharmaceuticals, and health care equipment, involving patients, providers, and payers.

Hospital Performance Records

Documentation and data that detail the effectiveness, efficiency, and quality of care provided by a hospital.

Government Publishing

The activity of producing and disseminating printed or digital publications by government agencies or entities.