The Following Statement Regarding the Economic Impact of Chronic Conditions

question 6

Multiple Choice

The following statement regarding the economic impact of chronic conditions in Canada is not true: ________.

• A) Chronic conditions can produce a loss of income to the individual affected
• B) Chronic conditions impact the national economy via loss of productivity
• C) Acute health issues have an even larger impact than chronic conditions
• D) Chronic conditions account for a larger share of direct health care costs in the United States, compared to Canada

---

Definitions:

Monopoly

A market structure characterized by a single seller who has exclusive control over a product or service, with no close substitutes.

Natural Monopoly

A market situation where the most cost-efficient production level is achieved by a single firm due to high fixed or start-up costs, making it impractical for new entrants.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit.

Output

The total amount of products or services produced by a company, industry, or economy within a specific period.