If someone did not regard health care as very important,often using home remedies and other substitutes,his or her demand curve for health care would most likely be more _____ than that of other people.
A)price-elastic
B)price-inelastic
C)upward-sloping
D)bowed-out

Question

Quizplus · Accepted Answer

If someone does not see health care as very important and resorts to home remedies and substitutes, it indicates they are more likely to be price-sensitive when it comes to health care. This means that a small increase in the price of health care services would make them significantly reduce their demand for such services. Therefore, their demand curve for health care would be more price-elastic compared to other people who see health care as important and are willing to pay more for it.

If Someone Did Not Regard Health Care as Very Important,often