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blondinia [14]
3 years ago
9

(3) Why is the medical arms race less a problem today than it once was?

Business
1 answer:
mixas84 [53]3 years ago
3 0
The medical arms race was for example the competition between the hospitals over the patients, which forced the hospital to for example focus on the interior design.

However, more recently the competition is focusing on efficiency, with the hospitals giving health care more efficienty receiving more money. One of the reasons for this change is the <span>Medicare Prospective Payment Systems which specifically rewards efficiency.</span>
<span />
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Answer:

a. 1, and total revenue and price move in the same direction

Explanation:

Unit elasticity of demand is when a change in price leads to a proportional change in quantity demanded.

A good has a unit elastic demand when its coefficient of elasticity is equal to one.

If price increases by 20% , quantity demanded falls by 20%.

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I hope my answer helps you.

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