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26703: Health - Introductory Health Economics - GP Consultationsis - Nursing Assessment Answer
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Internal Code: D_AI_DDBC_DJ
Code: 26703
Introductory Health Economics GP Consultationsis Assessment Answer
Assignment Task: 26703 Question1: StudieshaveshownthatthepriceelasticityforGPconsultationsis-0.2andfor emergencydepartmentservicesitis- (a)Ifthegovernmentpromisestoreducetheco-paymentofGPservicesby10% whatwillbetheimpact(inpercentageterms)onGPutilisation.Willtotal expenditureonGPservicesincreaseordecrease? (b)Ifapriceriseof10%isimposedonemergencydepartmentservices,whatwillthe impactbe(inpercentageterms)onEDuse? (c)Usingadiagramwithanindifferencecurveandbudgetconstraint,explainwhat wouldhappentothedemandforEDandGPconsultationsifco-paymentsforGP consultationsdecreasedbutEDco-paymentsstayedthesame Question2: Thelinksbetweentobaccosmoking,passivesmokingandlungcancerarewell established. (a)Whatarethefeaturesoftobaccosmokethatimposesexternalities? (b)Explainwhethertheseare: a.positiveornegativeexternalities? b.productionorconsumptionexternalities (c)Inasupplyanddemanddiagramshowthedeadweightlossassociatedwith tobaccosmokeunderascenariowherethereareexternalities Studentname: Studentnumber: Question3: Thefollowingtableprovidesincompleteinformationonthecostsofproducing diagnosticimagingtests.Itusestwoinputstoproduceitsoutputs:capitaland labour.Thefixedcostsreflectthemonthlyleasingcostforthediagnosticimaging machineandthevariablecostsreflectsthewagesandhoursworkedbystaff. Assumethatthefirmisoperatinginaperfectlycompetitivemarket.Alsoassume thatitsfixedcostsaresunkcosts(i.e.itcannotrecuperatethesecostsevenifit decidestoleavethemarket. Quantity produced Fixed Variable cost cost Average total cost Total cost Average variable costs Marginal cost 0 50 0 1 50 50 2 50 70 3 50 85 4 50 95 5 50 110 6 50 130 7 50 155 8 50 185 9 50 220 10 50 260 (a)Completeallemptycellsinthetableabove(1mark). (b)Provideabriefexplanationofwhythemarginalcostscouldexhibitthepattern youobserveinpart(a). (c)Addthreecolumnstothetableaboveheaded: (i)marginalrevenue; (ii)total revenue;and (iii)profit.Ifthemarketpricewas$31,completeallnewcolumnsin thetableovertheoutputrangeof0to10(1mark) (d)Ifthemarketpricewas$31,whatwouldbetheoptimum levelofproductionfor thefirm?Why?(2marks). HINT:Itmaybeeasiertocutandpastetheabovetableintoaspreadsheet,complete youranswersandthencutandpastethetablebackintoyourassignmentdocument. Studentname: Studentnumber: Question4: Considerthefollowingdemandandsupplyfunctionsforphysiotherapyservices. =26-P QD 12 and =P-40 Qs WhereQDisthequantitydemanded,QSisquantitysuppliedandPrepresent theprice. (a)Drawadiagramthatreflectstheabovedemandandsupplyfunctions.Besureto labelallpartsofyourdiagramcorrectly. (b)Calculatetheequilibriumpriceandquantity. (c)Ifthegovernmentsetsapricefloorinthismarketof$50,showwhatwillhappen inyourdiagramandcalculatethequantitydemandedandsupplied. HINT:attheequilibrium,QD=QS Question5: (a)Describewhatismeantbysupplier-induceddemand?(useasupplyanddemand diagramtohelpyouexplainyouranswer)(2marks) (b)Whywouldeconomistsbeconcernedaboutthepresenceofsupply-induced demand?This 26703: Health Assessment has been solved by our Health experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.