What Would Happen to the Price and Quantity of Medical

question 52

Multiple Choice

What would happen to the price and quantity of medical services if an existing doctor's office closed in a small town,ceteris paribus?

• A) Equilibrium price and quantity would rise because both supply and demand increased.
• B) Equilibrium price and quantity would fall because both supply and demand decreased.
• C) Equilibrium price would rise and quantity would fall because supply decreased and demand was constant.
• D) Equilibrium price and quantity would rise because demand decreased while supply was constant.
• E) Equilibrium price and quantity would fall because demand decreased and supply was constant.

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Definitions:

Regio-

A prefix indicating the region or position in a molecule where a chemical reaction takes place.

Syn Diol

A chemical compound containing two hydroxyl groups (-OH) attached to adjacent carbon atoms, often formed via the reduction of an alkene.

Hg(OAc)2

Mercury(II) acetate, a chemical compound used as a reagent in organic synthesis, particularly in oxymercuration reactions.

NaBH4

Sodium borohydride, a reducing agent commonly used in organic synthesis to reduce aldehydes and ketones to alcohols.