Price per visit | Quantity demanded | Quantity supplied |
$20 | 300 | 150 |
25 | 275 | 175 |
30 | 250 | 200 |
35 | 225 | 225 |
40 | 200 | 250 |
45 | 175 | 275 |
50 | 150 | 300 |
Assuming the original four physicians, if a price ceiling is set at $25 per office visit, how many office visits will be demanded per week?
a. 300 |
b. 250 |
c. 275 |
d. 225 |
e. None of the above |
The correct answer is: c)
Reason: the schedule above clearly shows that at a price of $25, 275 office visits will be demanded per week
Thanks!
Assuming the original four physicians, if a price ceiling is set at $25 per office visit, how many office visits will be demanded per week?
Price per visitQuantity demandedQuantity supplied$20300150252751753025020035225225402002504517527550150300Assuming the original four physicians, if a price ceiling is set at $25 per office visit, the outcome of such a policy will be a. A stable equilibrium. b. Higher quantity supplied than demanded. c. An oversupply of physician visits. d. A shortage of physician visits. e. None of the above.
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