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Question
Refer to the accompanying diagram for the following questions that follow.
As the life expectancy in the United States increases, which of the following could likely happen to the demand curve for items such as health care, cancer treatments, and nursing facilities, holding all else constant, and why?
a. There would be a decrease because individuals are healthier.
b. There would be an increase because the cost of these items is falling.
c. There would be an increase because there will be more buyers in these markets.
d. There would be a decrease because Social Security benefits are running out.
e. They will stay the same because these changes would affect the supply curve and not the demand curve.
Answer
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