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

question 20

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 total amount spent on health services is OP₁AQ₁ at price P₁.
• B) the equilibrium price and quantity are P₃ and Q₂.
• C) at price P₂ there would be a surplus.
• D) A and B are true.

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