Inelastic supply - Study guides, Revision notes & Summaries

Utilization of health care is often the starting point for studies into the need and/or demand for health care because A.the concepts are interchangeable and utilization is easiest to measure. B.demand and utilization are equal and need is unobservable. C.demand and utilization are similar and utilization is easy to measure. D.utilization is observable and offers information on demand and need. o :# D.utilization is observable and offers information on demand and need. Evidence indicates...

MGT 103 Bates Final questions and answers 100% correct __% of ticket sales are now Online 50 Price the money or other considerations (think: bartering) exchanged for the ownership or use of a product or service Barter exchanging products and services for other products and services Calculating the Final Price (Formula) List Price - (Incentives + allowances) + Extra Fees College Student ex. Tution - scholarships + books/housing Value (Formula) Percieved Benef...

EXSS 175 Exam 3 Questions with Correct Answers The cardiovascular system consists of - Answer-the heart, vessels, blood, and the circulation Peripheral circulation - Answer-blood supply for the extremities Cerebral circulation - Answer-blood supply for the brain Coronary circulation - Answer-blood supply to the heart muscle Main function of the heart - Answer-to move the blood through the vessels by contraction of muscle The heart pumps over ___ million gallons of blood per yea...

Which of the following will not increase the demand for burritos? a.A big burritos sale. b.The discovery that eating burritos cures cancer. c.A rise in the price of burgers, a substitute. d.A fall in the price of guacamole, a complement. e.All of the above will increase the demand for burritos. a.A big burritos sale. Which of the following will not decrease the supply of burritos. discovery that eating burritos causes cancer. b.a rise in the price of the tortillas used to make bu...

currently is charging 25 cents per cup, but she wants to adjust her price to earn the $50 faster. If you know that the demand for lemonade is elastic, what is your advice to her? - ANSWER Lower the price to increase total revenue For which of the following goods is the income elasticity of demand likely lowest? - ANSWER water Assume that a 4 percent increase in income results in a 2 percent increase in the quantity demanded of a good. The income elasticity of demand for the good is - ANSWE...

1. Which of the following will not increase the demand for burritos? a. A big burritos sale. b. The discovery that eating burritos cures cancer. c. A rise in the price of burgers, a substitute. d. A fall in the price of guacamole, a complement. e. All of the above will increase the demand for burritos. a. A big burritos sale. 2. Which of the following will not decrease the supply of burritos. a. the discovery that eating burritos causes cancer. b. a rise in the price of the tortill...

EC248 Final Exam Review Questions and answers/ VERIFIED. The __________ health care depends on preferences, budget constraint, price, supply factors. demand for need for availability of utilization of utilization of Supplier-induced demand always decreases efficiency because the care is likely not needed or wanted. is often efficient and desirable as patients get care they may not have demanded. is always efficient because only the physician knows what is medically necessary. is oft...

Agec 315 Exam 1 Hendricks Already Rated A+ Increases supply by shifting supply An increase in crop yields due to the development of higher yielding crop varieties affects world supply and demand for food in which of the following ways? II and III Which of the following represents a shift in the demand curve? I. Consumers buy less beef because beef prices have increased. II. Consumers buy more beef as income increase. III. Consumer buy more Cheerios because Cheerios removed all GM...

AREC 202 FINAL EXAM QUESTIONS AND ANSWERS 100% VERIFIED Excise Tax - answerTax on sales of a good or service: "per-unit" tax Effects: 1. It raises price paid by buyer 2. Reduces price received by sellers 3. Drives a wedge between the two ** If the producer is taxed, the supply curve will shift upwards by the amount of the tax. ** If the consumer is taxed, the demand curve will shift downwards by the amount of the tax. **It does not matter who is actually paying the tax, the burden is ...

If costs of production increase, while prices of substitute goods increase, what happens to equilibrium price and quantity of this good? correct answers Price increases, quantity decreases An economy produces 2 categories of goods on its production possibilities frontier. There is a decrease in the amount of goods necessary in the production of one good but not the other. What happens to the production of both goods? correct answers Production of both increase You lost a ticket to a concer...