Question

5) In the U.S. a majority of people have health insurance. How does the increasing prices of health care from parts (2) and (3) affect the cost for health insurance companies? a. In the graph below, show the appropriate curve shifting, b. Explain which determinant causes the shift c. State the changes in the equilibrium price and equilibrium quantity Hint: We are now looking at the health insurance market, not the health care market Market for Health Insurance Policies (2) How does the increasing cost of medical coding affect the healthcare market (check-ups, procedures, surgeries etc.)? Show the appropriate curve shifting on the graph below (one curve shifting) Explain which determinant caused the shift State what happens to the equilibrium price and equilibrium quantity. a. b. c. Market for Health Care S, (3) When people have health insurance, they tend to go to the doctor's more often because some of the cost will be covered by their insurance. a. How would an increase in the number of people covered by health insurance affect the market for health care? (one curve shifting) Which determinant is causing the shift? What would happen to price and quantity? b. C. Market for Health Care

Answer 1

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