[url removed, login to view] market demand and supply curves for physicians and physician assistants indicating a market clearing price (wage) for each. Label each graph. Consider the effect on each labor market when the following happens: hospitals decide to substitute physician assistants for physicians, ceteris paribus. [url removed, login to view] happens to the market wage for each type of labor as a result of the substitution? [url removed, login to view] might hospitals make this substitution? [url removed, login to view] criteria would they use to make their decision? Are there restrictions to doing so? [url removed, login to view] the long run, what will happen to the supply curves for both types of labor? Why? [url removed, login to view] will happen to the demand for medical care under the following scenarios, ceteris paribus? [url removed, login to view] will be the effect on demand for medical care as patient/consumer time costs rise? You do not need to draw a graph; explain your answer. Depict your analysis for parts (b) and (c) on the SAME graph, plotting price for medical care on the y-axis and quantity of medical care on the x-axis. [url removed, login to view] will be the effect on overall market demand for medical care as the supply of primary care physician increases? [url removed, login to view] the scenario in part (b), what will be the impact on the demand versus need relationship for medical care for the patient/consumer?
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