Heart surgeryD2D1In the market above, the demand for heart surgery has increased because of an agingpopulation, but the equilibrium quantity of heart surgeries performed does not change. Whatis the most likely reason for the vertical supply curve in this market?Select one:a. Insurance companies limit the number of surgeries each period because theseprocedures are very expensive.O b. The numbers of heart surgeons and hospital facilities are approximately fixed in theshort run.c. Increased demand for heart surgeries has been balanced by an improvement in thegeneral health of senior citizens.O d. The government, through Medicare, limits the number of surgeries that can beperformed each period.

Because number of heart surgeons are fixed in short run,supply of heart surgery is vertical.

Heart surgery P S D2 D1 he market above, the demand for heart surgery has increased because of an aging ulation, but the equilibrium quantity of heart surgeries performed does not change. What he most likely reason for the vertical supply curve in this market? ect one: a. Insurance companies limit the number of surgeries each period because these

Heart surgery P S D2 D1 he market above, the demand for heart surgery has increased because of an aging ulation, but the equilibrium quantity of heart surgeries performed does not change. What he most likely reason for the vertical supply curve in this market? ect one: a. Insurance companies limit the number of surgeries each period because these

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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