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Question 2 (10 marks) Consider the market for medical services when there is no health insurance using a demand supply framework with properly labelled graphs.
Question 2 (10 marks) Consider the market for medical services when there is no health insurance using a demand supply framework with properly labelled graphs. Show how the availability of health insurance is likely to affect this market. Clearly explain how the demand or supply or both curves will shift. Discuss the impact on the market equilibrium quantity and prices. Explain why patients pay higher/lower prices than before
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