A Study Conducted by Ragin Et Al

question 13

Multiple Choice

A study conducted by Ragin et al.(2005) found that consumers preferred _____ in part because of a perception of better medical care.

• A)The hospital
• B)The emergency department
• C)Government-funded care
• D)The single-payer system

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Definitions:

Usury Laws

Regulations governing the amount of interest that can be charged on a loan, intended to protect consumers from excessive rates.

Shortage

A situation in which the demand for a product or service exceeds its supply in a market.

Accounting Profits

The total revenue of a company minus the explicit costs and depreciation.

Normal Profits

The return to the business owners for the opportunity cost of their implicit inputs.