You are an economics advisor to a U.S. Senator. The Senator is interested in sponsoring legislation to address the impact of rapidly rising medical costs, and has commissioned you to provide a briefing paper on the subject.

You know medical costs have risen faster than other consumer costs over the past decade, and decide toutilize indifference curve analysisto demonstrate how the cost changes have impacted the Senator's constituents.

Provide an explanation as if it were a briefing paper you will deliver to the Senator.In it:

- demonstrate and document the trends in medical costs

- assume the Senator is not an economist and is not familiar with indifference curve analysis

- provide some legislative suggestions to the Senator that utilize your economic knowledge