Multiple Choice
The table shows the hypothetical demand and supply schedule for health care.With insurance paying two-thirds of the cost of health care, there would be a resulting allocative
A) efficiency because, at 500 units, the marginal cost to society of $400 equals the marginal benefit of $400.
B) efficiency because, at 700 units, the marginal cost to society is $200 and the marginal benefit is $600.
C) inefficiency because, at 700 units, the marginal cost to society is $600 and the marginal benefit is $200.
D) inefficiency because, at 700 units, the marginal cost to society is $400 and the marginal benefit is $200.
Correct Answer:
Verified
Correct Answer:
Verified
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