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Use the Following to Answer Questions

Question 32

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Use the following to answer questions .
Exhibit: The Market for Health Care Use the following to answer questions . Exhibit: The Market for Health Care -(Exhibit: The Market for Health Care) Based on the exhibit and assuming that there are no third-party payers: A) the total amount spent on health services is OP<sub>1</sub>AQ<sub>1</sub> at price P<sub>1</sub>. B) the equilibrium price and quantity are P<sub>3</sub> and Q<sub>2</sub>. C) at price P<sub>2</sub> there would be a surplus. D) A and B are true.
-(Exhibit: The Market for Health Care) Based on the exhibit and assuming that there are no third-party payers:


A) the total amount spent on health services is OP1AQ1 at price P1.
B) the equilibrium price and quantity are P3 and Q2.
C) at price P2 there would be a surplus.
D) A and B are true.

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