Demand And Supply Of Mri Services

1471 Words6 Pages
Introduction
Since President Obama signed the Affordable Care Act (ACA) into law four years ago, liberals and conservatives have lived in two diametrically opposed realities. Conservatives call the revolutionary policy, a dismal failure, claiming it would drive costs for consumers while limiting access to and stressing the bands of supply and demand for health care. Conversely, the progressive supporters have been delightedly enthusiastic as they believe that the expected healthcare services of Obamacare, will decrease cost while increasing access to affordable health care for millions (O’Brien, 2014). The effect of healthcare services provision and consumer costs in both the short and the long run are analyzed assuming continuation of key trends in consumer practices. This paper will examine the demand and supply of MRI services in the health care system, how they have been impacted by the Affordable Care Act.
Demand and Supply

Economically, the demand and supply of a product describes how cost or price, vary between availability and demand. Hence, for a given commodity, demand is the relation of the quantity of goods and services that consumers would be prepared to purchase at each unity price.

Demand
The law of demand asserts that, generally, price or cost and quantity demanded in MRI products and services should be inversely related. That is, the higher the price of a product, the less of it people would be prepared to buy (other things being equal). However, with
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