Problem
Let's say you are an advisor to a future fictional president. We know that the Affordable Care Act (or more affectionately known as Obama Care) was passed in 2010 and went into effect January 1, 2011. Over the next several years, a number of provsions took hold to include penalties for not having health care, "Cadillac Health Plans" were eliminated and other provisions occured as well. At no time was there a limitation on the use of private funds to pay for health care( unilke an earlier plan that was proposed [Hiliary Care] which would have imposed fines and even possible imprisonment for anyone paying for non-approved treatments). It was promised that once Obama Care was implemented, everyone's cost would come down. We know this did not happen. Using the concepts of suppy and demand of Chapter 2 from our textbook please explain why costs did not drop and offer suggestions for a more successful model. Use demand and supply curves as well as develop demand functions as part of your explanation.
Yes, chapter 2 of my book that is associated to my account on here It is Managerial Economics and Strategy 2nd edition.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.