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The Beveridge model in the United Kingdom uses queues or waiting lists to ration care, rather than prices.
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- True or false? According to the Grossman model, if a new drug were discovered that eliminated the steady deterioration of health that accompanies aging – but does not eliminate sudden events like heart attacks or being hit by a bus – then the demand for jelly donuts, french fries, and physical activity in the presence of buses would decline. Justify your answer.How can the New York sick leave law impact the use of emergency rooms? Reference the Grossman model for guidance.Assume a consumer's demand for a medical service is as follows: Q = 100 - Pp where Pp is the out-of-pocket price she actually faces. She is considering four different insurance options: uninsurance, full insurance, a 50% coinsurance plan, and a copayment plan with a $25 copay. Assume this service has a list price of PL = $70. Calculate Q under each insurance plan. Please fill in the final answer without showing the middle steps (a number only, without any extra space, symbol, word, etc.) If the customer is uninsured, Q= • If the customer is fully insured, Q= • If the customer has a 50% coinsurance plan, Q= • If the customer has the copayment plan, Q=
- A consumer’s demand for a medical service is as follows: Q = 100 – PP where PP is the out-of-pocket price she actually faces. She is considering four different insurance options: uninsurance, full insurance, and a copayment plan with a $25 copay. Assume this service has a list price of PL = $70. Calculate Q under each insurance plan: uninsured , fully insured , 50% coinsurance , and copayment plan Do you observe evidence of moral hazard? (yes or no?)Show how a consumer would choose between medical care and health(y) behavior activities using the graphical representation of the consumer choice model (assume that “amounts” of healthy behavior have “costs” or prices).Show how a consumer would choose between medical care and health(y) behavior activities using the graphical representation of the consumer choice model (assume that “amounts” of healthy behavior have “costs” or prices). How might health education affect this choice? What if medical care becomes more productive (more health benefit per “unit” of medical care consumed)? What if medical care becomes cheaper? Explain in terms of the model (i.e. what does it change in the model).
- Demand studies in health care have provided estimates of both income and price elasticity. Estimates of income elasticity are usually above +1.0 and estimates of price elasticity typically range between −0.1 and −0.75 (with hospital services at the lower end and elective services at the upper end). What is the significance of these estimates to policy makers?The UN Committee on Economic, Social, and Cultural Rights (CESCR) is charged with interpreting the International Covenant on Economic, Social, and Cultural Rights (ICESR). In 2000 the Committee released General Comment 14, “The Right to the Highest Attainable Standard of Health”. The General Comment is important for advancing our understanding of a right to health under international law because it: (choose one) A) Sets out what has become known as the “3AQ model” addressing the conditions for health on the basis of Availability, Accessibility, Acceptability, and Quality. B) Creates new, specific obligations with respect to the delivery health care services that are binding on all countries of the world C) Makes it clear that the absence of a right to health in the Canadian Charter or Rights and Freedoms means that Canada is in clear violation of its obligations under the ICESR. D) Offers an account of a right to health that has been used by health advocates around the world E) A, B…Suppose you have an insurance plan in which you pay the market price for medical care until you meet a deductible of $1,000, after which you have a coinsurance rate of .20. Answer parts a and b assuming your inverse demand curve for medical care is P = 400 – 10Q and the market price for medical care is $200 per unit.a) Graph the price line and your demand curve. On the graph, label the values of the x and y intercepts of the demand curve, the quantity where you meet the deductible, the horizontal sections of the price line, and the point(s) where the demand curve intersects the price line.b) Find the number of units of medical care that you will demand. Show all calculations that youperformed in your analysis.
- Why does taking a drug off a formulary increase the prices to the consumer?A medical reported that the consumption of this product has many health benefits Describe how does this would affect the market for the product.Alter the desmos.com model using the following daily market demand and supply of burritos: P = 6.37 0.025 Q and P = 1.2 + 0.016 Q 8 7 6 5 4 3 2 1 50 100 150 200 250 30 To find the number of burritos that are supplied by firms and demanded consumers, you solve demand equal to supply (6.37 0.025 Q = 1.2 + 0.016 Q) for Q or use your Desmos model. It equals burritos. To find the market-clearing price, substitute his value into demand or supply or use your Desmos model. It is dollars per burrito. Regarding the first burrito supplied, the • maximum price the first consumer is willing to pay is • minimum price firms are willing to accept is • price that is paid for it is dollars • first consumer surplus is dollars dollars dollars