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Suppose that there is no third-party payer in the medical care market in Spain in 1973. Suppose that in 1975, health insurance companies begin operations in Spain. All else being equal, what does supply and demand analysis predict will happen in the medical care market in 1975? O Total expenditures will increase O Demand will decrease in the medical care market initially due to insurance premium costs, but will increase over the long term O The total quantity will decline O Total expenditures will decline Previous Next