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

question 319

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, the

• A)demand curve for physicals shifts to the right.
• B)supply curve for physicals shifts to the left.
• C)quantity demanded of physicals increases, and the quantity supplied of physicals decreases.
• D)number of physicals performed stays the same.

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Definitions:

Spreading

The act of extending, distributing, or dispersing something over an area or among individuals.

Grapevine

An informal communication network within an organization, known for spreading rumors and unofficial information.

Single-strand Chain

A single-strand chain typically refers to a sequence of items or elements connected linearly, often used in molecular biology or chemistry contexts.

Randomly Contacting

The process of reaching out or communicating without a specific pattern or targeted system, often used in research or marketing.