-In the Above Figure,if a Medicare Subsidy That Had Previously $\mathrm { P } _ { 0 }$

question 32

Multiple Choice

-In the above figure,if a Medicare subsidy that had previously been paid by the government has now been eliminated,the result will be

• A)an increase in the price received by producers,from \(\mathrm { P } _ { 0 }\) to \(\mathrm { P } _ { \mathrm { s } }\) .
• B)a decrease in the price received by producers,from \(\mathrm { P } _ { \mathrm { s } }\) to \(\mathrm { P } _ { 0 }\) .
• C)an increase in the price paid by consumers,from \(\mathrm { P } _ { 0 }\) to \(\mathrm { P } _ { \mathrm { s } }\) .
• D)a decrease in the price paid by consumers,from \(\mathrm { P } _ { \mathrm { s } }\) to \(\mathrm { P } _ { 0 }\) .

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Definitions:

Decreased

A reduction in size, amount, extent, or intensity.

United States

A country in North America, consisting of 50 states and a federal district, known for its significant global economic and cultural influence.

Wealth Distribution

The comparative analysis of the distribution of assets among individuals or groups within a society or economy.

Income Inequality

The uneven distribution of income among individuals in an economy, reflecting varying levels of wealth, wage, and earning disparities.