3. Suppose we are analyzing an area that has many similar hospitals. Draw a graph that illustrates the market supply and market demand curve for hospital services in the area. I alsc want you to draw the demand curve for hospital services that any one hospital faces. 4. Sketch the Production Possibility Frontier of quantity (N) and quality (S) for a hospital and label the utility maximizing quantity-quality pair as (N*, 8*). Also sketch the indifference c1; that runs through (N *, 8*). 5. What evidence suggests that the market for nurses can be thOught of as a Monopsony? Ska a graph of the labor market for nurses and label the \"shortage\" that a Monopsony predicts