Figure 5.2. The figure shows the supply and demand curves of a firm.
-In which of the following situations will the price of medical care decrease with an increase in its demand?
A)When the supply of medical care is the same as the demand for medical care
B)When there is an increase in productivity as a result of a technological advancement
C)When there is an increase in the price of resources used to produce medical care
D)When the supply of medical care increases more than the demand for medical care
E)When there is an increase in future profit expectations

Question

​Figure 5.2. The figure shows the supply and demand curves of a firm. 
-In which of the following situations will the price of medical care decrease with an increase in its demand?​
A)​When the supply of medical care is the same as the demand for medical care 
B)​When there is an increase in productivity as a result of a technological advancement 
C)​When there is an increase in the price of resources used to produce medical care 
D)​When the supply of medical care increases more than the demand for medical care 
E)​When there is an increase in future profit expectations

Quizplus · Accepted Answer

The Answer of ​Figure 5.2. The figure shows the supply and demand curves of a firm. 
-In which of the following situations will the price of medical care decrease with an increase in its demand?​
A)​When the supply of medical care is the same as the demand for medical care 
B)​When there is an increase in productivity as a result of a technological advancement 
C)​When there is an increase in the price of resources used to produce medical care 
D)​When the supply of medical care increases more than the demand for medical care 
E)​When there is an increase in future profit expectations

​Figure 52

Figure 52