Sia
Question
Microeconomics
Posted 5 months ago
A government is concerned about whether young children in a community are receiving enough healthcare.
Which of the following is the LEAST likely to increase the amount of healthcare that people provide their children?
Choose 1 answer:
(A) Lowering regulations on who can provide healthcare, such as allowing nurses to provide healthcare rather than just doctors
(B) subsidize healthcare
(c) reduce the distance traveled to get healthcare
(D) increase the price of healthcare
(E) Provide coupons for free healthcare
Sign in to unlock the answer
Answer from Sia
Posted 5 months ago
Solution
a
Demand Law: According to the law of demand, there is an inverse relationship between price and quantity demanded
b
Impact of Price Increase: Increasing the price of healthcare is likely to decrease the quantity of healthcare demanded, making it less accessible
c
Subsidies and Accessibility: Subsidizing healthcare, reducing travel distance, and lowering regulations generally increase accessibility and consumption of healthcare
Answer
(D) increase the price of healthcare
Key Concept
Law of Demand
Explanation
Increasing the price of healthcare is likely to decrease the quantity demanded, making it the least likely option to increase the amount of healthcare that people provide to their children.
Not the question you are looking for? Ask here!
Enter question by text
Enter question by image
Upgrade to Asksia Pro
Join a AskSia's Pro Plan, and get 24/7 AI tutoring for your reviews, assignments, quizzes and exam preps.
Unlimited chat query usages
Strong algorithms that better know you
Early access to new release features
Study Other Question