The Table Gives Supply and Demand Data for a Certain

question 174

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-third of the equilibrium price, there would be a resulting allocative

• A)efficiency because, at 7,000 units, the marginal cost to society of $3,000 equals the marginal benefit of $3,000.
• B)efficiency because, at 12,000 units, the marginal cost to society is $4,000 and the marginal benefit is $1,000.
• C)inefficiency because, at 12,000 units, the marginal cost to society is $5,000 and the marginal benefit is $2,000.
• D)inefficiency because, at 12,000 units, the marginal cost to society is $2,000 and the marginal benefit is $5,000.

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Definitions:

If…Then Logic

A basic programming construct that executes a block of code if a specified condition is true.

Execute Statements

The process of running commands or scripts in a database or programming environment to perform operations like data manipulation or schema changes.

Trusted Folder

A directory designated as safe by the user or system, where files can be executed or accessed without triggering security warnings or restrictions.

Database Content

Refers to all the data and information stored within a database, including tables, records, and files.