Question
Predict the impact on the supply and/or demand for physiotherapy services in each of the situations described below. In each case, draw a graph that
Predict the impact on the supply and/or demand for physiotherapy services in each of the situations described below. In each case, draw a graph that includes an original supply and demand curve as well as the new, predicted supply or demand curve. Note: You are not required to submit the graphs; however, you must indicate the supply and/or demand curve shifts, the direction of each shift, and the predicted changes in equilibrium price and quantity (increase, decrease, or indeterminate).
a) Physiotherapy services are covered less generously by provincial health plans than previously. 2 marks
b) Physiotherapy professional associations significantly raise their entrance standards. 2 marks
c) An aging population incurs more muscle and joint injuries that require physiotherapy treatments. 2 marks
d) Events b. and c. occur simultaneously. 2 marks
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started