Often, health care prices for services and/or treatments are considered

Question

Quizplus · Accepted Answer

Health care prices are considered to be less elastic and variable with reference to price than consumer goods. This is because people often view health care as a necessity and are willing to pay a higher price for necessary medical services and treatments. Additionally, the high cost of entry for medical providers and the complexity of the healthcare system result in less competition and less variable pricing.

Often, Health Care Prices for Services And/or Treatments Are Considered