The finding that the average real price of abortions has remained relatively constant over the last 25
Question:
The finding that the average real price of abortions has remained relatively constant over the last 25 years suggests that the supply curve is horizontal. Med-off (1997) estimated that the price elasticity of demand for abortions ranges from -0.70 to -0.99. By how much would the market price of abortions and the number of abortions change if a lump-sum tax is assessed on abortion clinics that raises their minimum average cost by 10%? Use a figure to illustrate your answer.
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