Question;This week, you have been;examining how a supply curve and a demand curve intersect to determine market;price equilibrium.;As you explore possibilities for adjusting market price, one key consideration;is the extent to which the market is characterized by competition or monopoly.;Although "it is much easier to understand the extremes of perfect;competition or pure monopoly than the in-between compromises which make up the;real world" (Appendix, p. 209), the health care market is rather complex;and consists of multiple submarkets with varying degrees of competition.;In addition, various aspects of the health care industry are important for the;determination of market price, as well as adjustments that can be made by;shifting the supply and/or demand curves. As you explored in previous weeks;the availability of substitutes, flexibility of input choices for production;production efficiency, and other factors can be quite significant in this;regard.;To prepare for this Discussion;?;Identify an example of a health care good or;service to explore for this Discussion. The following list of submarkets may;guide your consideration, but you may select an example from a different arena.;?;?;o Physician services;o;o Nursing services;o;o Medical technician services;o;o Physical facilities (e.g., hospitals, specialized, imaging;long-term care);o;o Medical technology;o;o Pharmaceuticals;?;Review the Learning Resources and do further;research as needed to assess the structure and other characteristics of the;market as it relates to your example. For instance;?;?;o Review Table 8.1 on page 154 of theEssentials of Health Policy and Lawtext. How would you evaluate this;market in terms of competition and monopoly?;o;o To what extent do the providers of the good or service influence;consumers' decisions?;o;o What substitutes are available, or what is the possibility of;developing substitutes?;o;o Do consumers have access to information about alternatives, and;are they able to make cost-effective choices about the good or service?;o;o;What can you learn about flexibility for;selecting which productive inputs to use? What other factors relate to;production costs?;?;With this information in mind, analyze how you;could shift the supply curve or the demand curve to affect the market price for;the particular good or service you have selected. Based on your research, which;factors could have the most significant influence on how the supply curve or;demand curve could be shifted?;?;?;Is it possible and/or advisable to generalize;about the health care marketplace as a whole based on this example? Why or why;not?;Postby Day 4a cohesive response that;addresses the following;?;Describe an example of a particular health;care good or service at the beginning of your posting.;?;?;Analyze how you could shift the supply curve;or the demand curve to affect the market price for your selected example.;?;?;Evaluate the impact of two or three factors;that could influence the extent to which the supply curve or demand curve could;be shifted.;Reada selection;of your colleagues'postings.
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