If Provinces Decide to Cover Part of the Price of Voluntary

question 289

Multiple Choice

If provinces decide to cover part of the price of voluntary laser eye surgery and more doctors decide to enter the field of laser eye surgery, what will happen in the market for laser eye surgery as a result of these two factors?

• A)Demand will increase, but these two factors will not shift the supply curve.
• B)Supply will increase, but these two factors will not shift the demand curve.
• C)Demand and supply will both increase.
• D)Demand will increase and supply will decrease.

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Definitions:

Sale Price

The final price at which an item is sold, often after discounts have been applied.

Non-Strategic Game

A scenario in game theory where players' choices do not impact each other, making strategy considerations unnecessary.

Bargaining Position

The advantage or leverage that a party has in negotiations or discussions to influence an agreement's terms in their favor.

Cashier Check

A check drawn by a bank on its own funds and signed by a cashier, considered more reliable than a personal check because the bank guarantees its payment.