Research Article Critique Paper
August 19, 2020
chapter 16 17 read write assignment
August 19, 2020

Demand and supply for well-baby visits pediatricians in in Fairfax County are shown below. The market period is one week. Assume that there is no health insurance. 

Price                           Demand                                  Supply

120                             1000                                       1240                                       

115                             1050                                       1230

110                             1100                                       1220

105                             1150                                       1210

100                            1200                                       1200

 95                             1250                                       1190

 90                             1300                                       1180

 85                             1350                                       1170

 80                             1400                                       1160

 75                             1450                                       1150

 70                             1500                                       1140

 65                             1550                                       1130              

A. Graph demand and supply and determine the market price/quantity. (a blank graph follows or you can use another, but one needs to be submitted. You can email it to me if that works better for you).

 Over the next 10 years due to population growth and growing awareness of the importance of preventive care in the first few years of life, demand for well-baby visits grows by 2 percent per year. The supply of pediatricians increases by 1 percent per year as medical schools expand a little and a small number of additional pediatricians from foreign countries are certified to practice in the U.S.

 B. Graph the new demand and supply after 10 years (you do not need to compound the growth (similar to compounding interest over time)  when you do the math). What is the new market price/quantity.

C. What was the percentage increase in price after 10 years?  

D. What happens if everyone is insured and the pediatrician is able to charge the market price as per the new equilibrium, but $65 of the fee is paid by the patient as a copay and the balance is paid by the insurance company?  Be specific as to the shortage or surplus.

 

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Demand and supply for well-baby visits pediatricians in in Fairfax County are shown below. The market period is one week. Assume that there is no… was first posted on August 19, 2020 at 8:35 pm.
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