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Question
Microeconomics
Posted 4 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) subsidize healthcare
(B) increase the price of healthcare
(c) Provide coupons for free healthcare
D Lowering regulations on who can provide healthcare, such as allowing nurses to provide healthcare rather than just doctors
(E) reduce the distance traveled to get healthcare
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Answer from Sia
Posted 4 months ago
Solution
a
Subsidizing Healthcare: Subsidizing healthcare reduces the cost for consumers, making it more affordable and likely increasing the amount of healthcare provided to children
b
Increasing Price: Increasing the price of healthcare makes it more expensive, which is likely to decrease the amount of healthcare provided to children
c
Providing Coupons: Providing coupons for free healthcare effectively reduces the cost to zero, encouraging more people to seek healthcare for their children
d
Lowering Regulations: Lowering regulations on who can provide healthcare increases the supply of healthcare providers, potentially reducing costs and increasing access
e
Reducing Distance: Reducing the distance traveled to get healthcare makes it more accessible, likely increasing the amount of healthcare provided to children
Answer
(B) increase the price of healthcare
Key Concept
Price Elasticity of Demand
Explanation
Increasing the price of healthcare is the least likely to increase the amount of healthcare provided to children because higher prices generally lead to lower demand, especially for essential services like healthcare.
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