Asked by
Angie soberal
on Nov 26, 2024
Verified
The price elasticity of demand for health care is such that an increase in the price of health care will
A) decrease total health care expenditures.
B) increase total health care expenditures.
C) shift the demand for health care rightward.
D) shift the demand for health care leftward.
Price Elasticity Of Demand
A measure of how much the quantity demanded of a good responds to a change in its price, indicating the sensitivity of consumers to price changes.
Health Care
The organized provision of medical services to individuals or communities to maintain or improve health.
Total Health Care Expenditures
The total amount of money spent on health care services and products in a specific period, often measured annually.
- Acquire a deep understanding of the primary and economic obstacles in the U.S. health care system, including the issues of overutilization and the influence of price fluctuations on demand.
Verified Answer
HK
Learning Objectives
- Acquire a deep understanding of the primary and economic obstacles in the U.S. health care system, including the issues of overutilization and the influence of price fluctuations on demand.