EBK HEALTH ECONOMICS
EBK HEALTH ECONOMICS
null Edition
ISBN: 9781137029973
Author: TU
Publisher: YUZU
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Chapter 2, Problem 1E
To determine

Check whether the statement is true or false.

Expert Solution & Answer
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Explanation of Solution

Deriving the demand curve for health care is not an easy task like deriving a demand curve for other goods. This is due to the fact that calculating the price for health care is not accurate because in most cases, the amount is paid by a third party and also it needs more information regarding the reactions of people toward changes in price. Thus, the given statement is false.

Economics Concept Introduction

Demand curve: Demand curve is a graphical representation of the total value of goods and services that are demanded at a particular price in a given period of time.

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