Question
iv:Medical malpractice insurance premiums increase for plastic surgeons: The demand for cosmetic procedures is likely to increase with the introduction of a national lending program.
iv:Medical malpractice insurance premiums increase for plastic surgeons:
The demand for cosmetic procedures is likely to increase with the introduction of a national lending program. This would cause the demand curve to shift to the right. However, it may not significantly affect the supply curve, which is determined by various factors such as the availability of facilities and equipment, the number of qualified professionals, and regulatory constraints. As a result, the equilibrium quantity of cosmetic procedures is likely to increase. The equilibrium price could either increase, decrease, or remain stable, depending on the specifics of the lending program. Overall, introducing a nationwide lending program for cosmetic procedures could expand the equilibrium quantity and affect the equilibrium price.
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