Writing in 2018 on bloomberg.com, economist Noah Smith noted, As economic growth has slowed, growth in demand

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Writing in 2018 on bloomberg.com, economist Noah Smith noted, “As economic growth has slowed, growth in demand for health care has slowed.  But at the same time, prices have risen.” Use a graph showing the demand and supply for health care services to analyze what Smith said was happening in this market. Your graph should include a demand curve labeled D2016, a demand curve labeled D2018, a supply curve labeled S2016, and a supply curve labeled S2018. Be sure to show the direction of the shifts in the demand and supply curves during those years and changes in the equilibrium price and quantity. Briefly explain why you shifted the curves the way you did.

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Microeconomics

ISBN: 9780135952955

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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