If provinces decide to cover part of the price of voluntary laser eye surgery and more doctors decide to enter the field of laser eye surgery, what will happen in the market for laser eye surgery as a result of these two factors?
A)Demand will increase, but these two factors will not shift the supply curve.
B)Supply will increase, but these two factors will not shift the demand curve.
C)Demand and supply will both increase.
D)Demand will increase and supply will decrease.

Question

Quizplus · Accepted Answer

If provinces cover part of the price of voluntary laser eye surgery, this will make it more affordable for consumers and increase demand. If more doctors enter the field, this will increase the supply of laser eye surgery services. As a result, both demand and supply will increase in the market for laser eye surgery. Therefore, the best choice is C.

If Provinces Decide to Cover Part of the Price of Voluntary