Since Nearly a Third of All People Between the Ages

question 29

Essay

Since nearly a third of all people between the ages of 18 and 24 are uninsured,does it make sense to impose a surcharge for medical services to this cohort?

---

Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance.

Supply

The total amount of a specific good or service that is available to consumers at a given time.

Equilibrium Quantity

The quantity of goods or services at which demand equals supply, and there is no tendency for the market price to change.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, leading to a stable market condition.