Question

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

Answer 1

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!