To Answer the Question,refer to the Following Table Showing a Demand

question 32

Multiple Choice

To answer the question,refer to the following table showing a demand schedule: $\begin{array}{llcc}\underline{ \text {Price } }&\underline{ \text { Ouantity } } \\ &\underline{\text {demanded }} \\\$200 &1000\\150&1400\\100 &1800\\\end{array}$ If price falls from $200 to $150,

• A)arrows representing the price and quantity effects both point down.
• B)an arrow representing the price effect points down and is longer than an arrow for the quantity effect.
• C)an arrow representing the quantity effect points up and is shorter than an arrow for the price effect.
• D)arrows representing the price and quantity effects both point up.
• E)total revenue moves in the same direction as the arrow representing the quantity effect.

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Definitions:

Life Expectancy

The average number of years an individual is expected to live, based on statistical averages for a particular population or demographic.

Health Expectancy

An estimate of how many years a person can expect to live in a state of good health, taking into account morbidity and disability rates.

PPACA

The Patient Protection and Affordable Care Act, a U.S. law enacted in 2010 aimed at expanding health insurance coverage, reducing healthcare costs, and improving healthcare system efficiency.

Personal Mandate

Specific requirements or duties imposed on individuals, often referring to health insurance obligations.