The Table Gives Supply and Demand Data for a Certain

question 6

Multiple Choice

The table gives supply and demand data for a certain elective surgical procedure. If suppliers provide the quantity of health care demanded and insurance pays one-half of the equilibrium price, the immediate price to the consumer and quantity of health care demanded would be

• A)$2,000 and 5,200.
• B)$2,000 and 4,000.
• C)$1,000 and 5,200.
• D)$1,000 and 1,000.

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Definitions:

Business-Friendly

Describes policies or environments that support or benefit businesses, often through tax incentives, deregulation, or other means facilitating economic growth.

Occupational Health

A multidisciplinary field dealing with the health, safety, and welfare of people at work, aiming to prevent work-related injuries and diseases.

OSHA

The Occupational Safety and Health Administration, a federal agency of the United States that ensures safe and healthful working conditions by setting and enforcing standards.

Business Groups

Collections of businesses, often linked by ownership or control, that work together to achieve economic or political goals.