Reference no: EM133231957
Assignment:
1. The supply curve for medical care would likely shift to the left if:
a) office rent drops
b) malpractice insurance premiums drops.
c) compliance with new regulations add costs.
d) the medical care hired more physician assistant to replace retired physicians.
2. When the demand and supply of Tylenol both increase at the same time, we can safely assume that
a) price of Tylenol will decline.
b) price of Tylenol will increase.
c) quantity of Tylenol bought &sold will decline.
d) quantity of Tylenol bought & sold will increase.
3. If an upward sloping supply curve shifts to the right and the downward sloping demand curve remains unchanged, the equilibrium price will:
a) increase
b) decrease
c) unchanged
d) can't determine
4. Supposed an upward sloping supply curve shifts to the right and the downward sloping demand curve shifts to the left, the equilibrium price will:
a)i ncrease
b) decrease
c) unchanged
d) can't determine
5. Which factor is most likely to cause the supply curve for health care services to shift to the right?
a) Increases in the price of an input, such as labor
b) An improvement in technology
c) An increase in age of the population served by the company
d) increase in regulation affecting the company
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