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Personal finance companies start a nationwide lending program for cosmetic procedures: The demand curve for cosmetic procedures is expected to shift to the right due
Personal finance companies start a nationwide lending program for cosmetic procedures: The demand curve for cosmetic procedures is expected to shift to the right due to the introduction a national lending program, making these procedures more affordable for many people. This means that more people will be likely to demand these services, causing an increase in the demand for cosmetic procedures. However, the supply curve may be relatively unaffected by this event since the supply of cosmetic procedures depends on several factors, such as the number of qualified professionals, the availability of facilities and equipment, and regulatory constraints. The equilibrium quantity of cosmetic procedures is likely to increase due to the shift in the demand curve to the right. The equilibrium price could either increase, decrease, or remain stable, depending on the specifics of the lending program. Overall, introducing a national lending program for cosmetic procedures is expected to increase the demand for these procedures and could affect the equilibrium price
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