Question No. 4: Total Marks=10 [3+5+2] Excessive use of antibiotics is contributing to the resistance of many diseases to existing antibiotics. Consider a regulatory program being considered by Health Canada that would monitor antibiotics prescribed by doctors in Canada. It is estimated that the direct cost of enforcement would be $350 million, the time costs to doctors and other healthcare professionals would be $450 million, and the convenience costs to patients would be $150 million per year. The annual benefits of the program are estimated to be $1 billion in avoided resistance costs in Canada and $150 million in health benefits in Canada from better compliance with prescriptions. In addition, this program will generate a spill-over benefit of $500 million per year in avoided resistance costs in the rest of the world. Who should have standing in this regulatory policy? Why? Determine the net benefit for this program? Should it be implemented? Explain. Question No. 4: Total Marks=10 [3+5+2] Excessive use of antibiotics is contributing to the resistance of many diseases to existing antibiotics. Consider a regulatory program being considered by Health Canada that would monitor antibiotics prescribed by doctors in Canada. It is estimated that the direct cost of enforcement would be $350 million, the time costs to doctors and other healthcare professionals would be $450 million, and the convenience costs to patients would be $150 million per year. The annual benefits of the program are estimated to be $1 billion in avoided resistance costs in Canada and $150 million in health benefits in Canada from better compliance with prescriptions. In addition, this program will generate a spill-over benefit of $500 million per year in avoided resistance costs in the rest of the world. Who should have standing in this regulatory policy? Why? Determine the net benefit for this program? Should it be implemented? Explain