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- See attachment. Whats the the maximum health insurance premium the individual is willing to pay?Apply the concept of equilibrium in the health market or medicine practiceWhat percentage of its GDP does the United States spend on health care?a. 5 percentb. 13 percentc. 16 percentd. 22 percente. 25 percent
- a. What is the arc price elasticity of demand for healthcare consumers in Japan using only this data? b. Using your estimated elasticity, what would the demand for health care be if the price in tokyo were raised to 30 per visit? What would the demand in Hokkaido be if the price were lowered to 5 per visit? Region Outpatient visits Price/ visit Tokyo 1.25/ month 20Y Hokkaido 1.5/ month 10YTotal health expenditures are a function of price and O A. Reimbursement O B. Value O C. Assets O D. QuantityWhy is it important for decision-makers in a county council to take cost-effectiveness into account when making decisions tointroduce a new treatment in the county council?
- Suppose the government imposes a system of price ceilings in the health care industry as part of an overall health care reform bill. a) draw a graph of the health care market and show equilibrium price and quantity. b) assume the government imposes an effective price ceiling in the health care market. Show the price ceiling in your graph. Indicate what will happen to quantity demanded and quantity supplied of health over time ? c) would a shortage or surplus result ? I llustrate in your graph.1. If the number of people with insurance increases, then what will most likely occur? a. a. a. a. a. The demand for health care will decrease. The demand for health care will increase. The demand for health care will be unaffected. There will be less preventive care. The amount of preventive care will be unaffected. 2.Requiring patients to pay a portion of the cost of the medical care they receive is designed to reduce the severity of a. a. a. a. a. moral hazard. diminishing returns. adverse selection. the principal-agent problem. market failure.Which kind of externality problems exists in the market for medical checkup? How does this externality problem affect the efficiency of the market? Explain in detail.
