Assume medical care is a normal good, if patient X, who is a rational decision maker,...

Assume medical care is a normal good, if patient X, who is a rational decision maker, just got a pay cut due to a bad economy, he would be more like to ________________.

Group of answer choices

pursue more medical care

pursue less medical care

remain unchanged in medical care consumption

pursue health care regardless of its quality and price

Solutions

Expert Solution

As the income of the consumer in the market has decresed, the consumption of the normal goods will also fall, he will be consuming less medical care. the anwer is "B".

Rahul Sunny answered 2 years ago

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