MANAGERIAL/ECON+BUS/STR CONNECT ACCESS
9th Edition
ISBN: 2810022149537
Author: Baye
Publisher: MCG
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Question
Chapter 13, Problem 15PAA
To determine
To find: The reason for professional associations which regulate services.
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True or false and explain
State policies that mandated the release of physician report cards were greatly beneficial to consumers by allowing them to more efficiently search for high quality surgeons.
A number of professional associations, such as the American Medical Association and the American Bar Association, support regulations that make it more costly for their members (for example, doctors and lawyers) to practice their services. While some of these regulations may stem from a genuine desire for higher-quality medical and legal services, self-interest may also play a role. Explain.
Draw a demand and supply diagram and use it to explain the effects of occupational licensure of physicians on the quantity, quality of care, and income of physicians in the market for physician services.
Chapter 13 Solutions
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