Based on the available elasticity evidence, health care

Question

Quizplus · Accepted Answer

The available elasticity evidence suggests that health care is a normal good, meaning that demand increases as income increases. This is supported by studies that show a positive income elasticity of demand for health care. However, the evidence does not suggest whether health care is highly elastic or has a specific price elasticity of demand value. It is also not classified as either an inferior good or a normal good.

Based on the Available Elasticity Evidence, Health Care