What is one reason the supply and demand model might NOT be appropriate to the health-care industry?
A) Consumers do not have full information.
B) Providers do not know the demand for health-care services.
C) Consumers do not know how to value their own health.
D) The costs of finding a doctor are too low.

Question

Quizplus · Accepted Answer

In the health-care industry, consumers often lack complete information about their medical conditions, treatment options, and the costs associated with those treatments. As a result, they may not be able to make informed decisions about their health-care choices, which can lead to market inefficiencies and suboptimal outcomes. This makes the basic assumptions of the supply and demand model less applicable to this industry.

What Is One Reason the Supply and Demand Model Might