Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 22 - Health Care - Discussion Questions - Page 510: 1


The answer is below.

Work Step by Step

This suggests two things. First of all, it suggests that people want a higher standard of living, for buying appliances more often is a luxury and not a necessity. In addition, this suggests that people have more disposable income.
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