Suppose the Equilibrium Price of a Physical Examination ("Physical")by a Doctor

question 59

Multiple Choice

Suppose the equilibrium price of a physical examination ("physical") by a doctor is $200,and the government imposes a price ceiling of $150 per physical.As a result of the price ceiling,

• A)the quantity of physicals demanded increases.
• B)there is shortage of physicals.
• C)the quantity of physicals supplied decreases.
• D)All of the above are correct.

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Definitions:

Social Conditions

The environmental, cultural and economic factors that influence the lives and opportunities of those within a society.

Life Expectancy

The average period that an individual is expected to live, based on statistical analysis, which can vary by geographical location, era, and other social factors.

Sociology of Medicine

A sub-discipline of sociology that examines the social dimensions of health, illness, and healthcare, including the role of medical institutions and the interactions among patients, healthcare providers, and society.

Life Expectancy

The average number of years that a person is expected to live, based on statistical averages.