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The Albanese Government added a new form of fast-acting insulin to the Pharmaceutical Benefits Scheme (PBS) beginning October 2023. This would improve the quality of
The Albanese Government added a new form of fast-acting insulin to the Pharmaceutical Benefits Scheme (PBS) beginning October 2023. This would improve the quality of medical care for people living with diabetes. a) What happens to the demand curve for this care i.e., the new form of fast-acting insulin? (2 marks) b) What would happen if quality increases in ways that are unobservable to the consumer, such as a reduction in the probability of adverse side effects
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