Miller, Benjamin and North
Answer the questions
1. Please answer the following question from Miller, Benjamin and North (page 133, number 3)
If the government attempts to reduce health care expenditures by lowering fees that physicians can charge for certain procedures, what might be the result in the short run? In the long run?
2. Please answer the following question from Miller, Benjamin and North (page 133, number 1)
“Is it correct to apply standard economic analysis to something as important as medical care? Why or why not?”