Health insurance often pays 80 percent of health care costs. This situation will encourage the rational consumer to
A) consume less health care because the cost is too expensive.
B) obtain health insurance that pays less than 80 percent of medical care costs.
C) use more medical services than they would if they had to paid the full price.
D) eliminate their health care coverage because it does not cover 100 percent of the cost.
Correct Answer:
Verified
Q1: If total utility increases as consumption of
Q2: Marginal utility is the accumulation of the
Q17: If the price of a good increases,
Q208: If consumption of a good is subsidized
Q211: An increase in the productivity of labor
Q213: A consumer has two basic choices in
Q214: The financing of health care through insurance
Q215: A consumer has two basic choices: rent
Q216: Assume a round of golf requires four
Q240: Many people do not steal or commit
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents