If the Supply Function in the Medical Sector Is Relatively

question 19

Multiple Choice

If the supply function in the medical sector is relatively inelastic,then a rightward shift in demand will cause

• A)Price to increase faster than quantity increases
• B)Price to decrease faster than quantity increases
• C)Price to increase slower than quantity increases
• D)Price to decrease slower than quantity increases

---

Definitions:

Culture Constraint

Limitations and boundaries on individual behavior and social practices imposed by cultural norms and values.

Rationalization

The process of making activities or tasks more efficient and systematic, often through the implementation of rules, regulations, and procedures.

McDonaldization

A term used to describe the process by which the principles of the fast-food industry, such as efficiency and uniformity, are coming to dominate other sectors of society.

Work Clock

A device or system used to track and record the hours worked by an employee.