The Price of Oranges Rises by 3 Percent and Quantity

question 90

Multiple Choice

The price of oranges rises by 3 percent and quantity of oranges demanded decreases by 3 percent. We conclude that the demand for oranges is

• A)inelastic.
• B)elastic.
• C)perfectly inelastic.
• D)perfect elastic.
• E)unit elastic.

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Definitions:

Exclusive Provider Organization

A managed care plan where services are covered only if you use doctors, specialists, or hospitals in the plan’s network, except in an emergency.

Primary Care Physician

A healthcare provider who acts as the first point of contact for patients, offering general medical care and referring to specialists when necessary.

Comprehensive Benefits

An extensive range of employee benefits covering different areas such as health insurance, retirement plans, paid leave, and other perks aimed at improving employee satisfaction and well-being.

Charting

Refers to the process of recording medical information, observations, and treatments of patients in their medical records.