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Question
After years of paying all healthcare expenses for employees, a citys largest employer has decided not to offer healthcare coverage anymore. The equilibrium price and quantity for medical services in the city would
a. not be affected.
b. rise because supply and demand would decrease.
c. fall because demand would decrease and supply would remain constant.
d. rise as demand would increase, but supply would remain constant.
e. rise because demand would decrease and supply would remain constant.
Answer
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Related questions
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Price gouging laws will usually result in ________ the product in the distressed market.
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The economic entity most likely to engage in price gouging is
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a. He or she will substitute away from the product.
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What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
c. A shortage will continue to exist and will grow larger over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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Q:
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Q:
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