Physicians' fees have risen rapidly in the face of an expanding supply of physicians in the last two decades.Which of the following reasons best explains this phenomenon?
A) Restrictions on advertising enable established physicians to keep new,entering physicians from competing for their customers.
B) Fees charged by physicians are fixed by the government.
C) Consumers are able to obtain complete information about fees or professional qualities of the physicians.
D) Restrictions on physicians' freedom to relocate within certain geographic boundaries have led to price fixing within the medical profession.
E) The demand for physicians' services has steadily declined over the past three decades.
Correct Answer:
Verified
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