Changes on price and output of physician services


In the country of Drazah Larom (moral hazard spelled backward), health insurance is nonexistent and all medical markets are perfectly competitive. Use supply and demand analysis to explain the impact of the following changes on the price and output of physician services. (Unnecessary to show graph)

A. A decrease in the wage of clinic-based nurses

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Finance Basics: Changes on price and output of physician services
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