Use the Following to Answer Question(s): the Market for Health

question 94

Multiple Choice

Use the following to answer question(s) : The Market for Health Care

-(Exhibit: The Market for Health Care) Based on the exhibit and assuming that there are no third-party payers:

• A) the equilibrium quantity is Q₂.
• B) the equilibrium quantity is Q₁.
• C) the total amount spent on health-care services at the equilibrium price is given by the area OP₃BQ₂.
• D) none of the above are true.

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