Answered: Explain the factors that may cause…

EBK HEALTH ECONOMICS AND POLICY

7th Edition

ISBN:9781337668279

Author:Henderson

Publisher:Henderson

Chapter8: Managed Care

Section: Chapter Questions

Problem 2QAP

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Explain the factors that may cause shortages of physicians in rural areas. Explain what types of policies might encourage physicians to move to rural areas and reduce the shortage.

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Equilibrium represents the state of stability at which the demand and supply are the same. At the equilibrium point, market has no shortages or surplus. Shortages arise in the market when the quantity demanded is more than the quantity supplied. Surplus arises in the market when the quantity supplied is more than the quantity demanded.

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