Suppose the Equilibrium Price of a Physical Examination ("Physical")by a Doctor

question 59

Multiple Choice

Suppose the equilibrium price of a physical examination ("physical") by a doctor is $200,and the government imposes a price ceiling of $150 per physical.As a result of the price ceiling,

• A)the quantity of physicals demanded increases.
• B)there is shortage of physicals.
• C)the quantity of physicals supplied decreases.
• D)All of the above are correct.

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Definitions:

Bundling

The practice of selling multiple products or services together as a combined package, often at a discounted price.

Cross-selling

The strategy of selling additional products or services to an existing customer based on their previous purchases.

Downselling

A sales strategy where a seller offers a more affordable or lesser alternative to a product the customer initially showed interest in.

Upselling

A sales technique where a seller induces the customer to purchase more expensive items or add-ons for an upgrade.