1.Assume that the price of registered nurses was subsidized (Hospitals pay a lower wage to registered nurses).

Trace the effect of such a policy in all the medical markets,

evaluate this policy in terms of its effect on the goal of increasing the level of the population's health (Consider in your answers the effect on the demand curve for registered nurses, effect on the demand for substitutes of registered nurses, effect on hospital demand and the demand for nursing education..).

Second, evaluate this policy in terms of economic efficiency.Is it more efficient to subsidize registered nurses only or the hospital in general?

Finally, evaluate this policy in terms of who benefits and who bears the cost? (5points)