Use the Following to Answer Questions

question 23

Multiple Choice

Use the following to answer questions .
Exhibit: The Market for Health Care
-(Exhibit: The Market for Health Care) At price P₃ the total cost of health-care services compared to price P₁ has increased from:

• A) OP₃BQ₂ to OP₁AQ₂.
• B) OP₁AQ₁ to OP₃BQ₂.
• C) OP₃BQ₂ to OP₁AQ₁, and consumers pay OP₁AQ1₂.
• D) OP₁AQ₁ to OP₃BQ₂, and insurance pays OP₂CQ₂.

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Definitions:

Yards

A unit of measurement equal to 3 feet or 0.9144 meters, used primarily in the United States, the United Kingdom, and Canada for measuring distances.

Centimeters

A measurement in the metric system that corresponds to one hundredth of a meter in length.

Yards

A unit of length in the Imperial and US customary systems, equal to 3 feet or 0.9144 meters.

Meters

The base unit of length in the International System of Units (SI), equivalent to 100 centimeters.