Estimates of the income elasticity of demand for health care indicate that it is about 1. These estimates suggest that spending on health care will probably:

Question

19-07-2022
Business

contestada

Estimates of the income elasticity of demand for health care indicate that it is about 1. These estimates suggest that spending on health care will probably:

Respuesta :

Otras preguntas

Which XXX declares a student's name. public class Student { XXX private double myGPA; private int myID; public int getID() { return myID; } } Group of answer ch

Is segment ST tangent to circle P1

People with a strong global mindset Question 18 options: can judge the competence of others by their national or ethnic origins. have a more parochial frame of

A student who is performing an experiment must measure out 0.02-mL of 0.50-M HCl. The most accurate piece of equipment to measure the quantity would be a? A) 50

What kind of inference can the reader make about the importance of sugar in the late 19th century

A high-tech computer company reported the following information in a recent annual report (all dollar amounts are expressed in millions): Net revenue $49,205 Co

PLEASE is possible to calculate the theoretical yield without a balanced equation?

PLEASE HELP IM SORRY THE PIC IS BLURRY I NEED TO PASS SUMMER SCHOOL

I just subscribed and it’s not what I thought. How do I cancel and get refund without going through my bank?

Kevin buys the items listed below at a grocery store. 3 packages of chicken priced at $12.36 per package 12 pound of broccoli priced at $1.98 per pound 1 gallon

Munali Munali · Answer 1 · 2022-07-26T19:15:31+02:00

The income elasticity of demand is 1 which shows that if the prices are lowered the demand will increase. The quantity demanded will change as the price changes.

What is demand?

Demand is the want of a product this is influenced by the price and supply of the product. If the price of a product is increased the demand for the product will fall and if the price is lowered the demand will increase.

The demand is increased if prices are lowered and vice versa when the income elasticity of demand is positive which is the case for health care.

Learn more about Elasticity of Demand at https://brainly.com/question/27300772

#SPJ1