dropbox assignments 1 and 2

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Dropbox Assignment 1
text- health economics and policy 6th edition by james henderson. read chapters 1 and 2 then answer.
Using a supply-and-demand graph and assuming competitive markets, show and explain the effect on equilibrium price and quantity of the following:

1.A technological change that reduces the cost of producing X-rays on the market for physician clinic services.
2.Increased graduations of new doctors on the market for physician services.
3.The virtual elimination of smoking in the population on the market for hospital services.
4.A price ceiling placed on physician fees in the market for physician services.
This assignment is worth 30 points. Your answer must demonstrate that you know how to shift supply and demand curves (comparative statics) under various scenarios.

Dropbox Assignment 2
text- health economics and policy 6th edition by james henderson. read chapters 5 and 6 then answer.

According to studies undertaken by the US Department of Agriculture, the price elasticity of demand for cigarettes is between – 0.3 and – 0.4 and the income elasticity

is about + 0.5.

•Suppose Congress, influenced by studies linking cigarette smoking to cancer, plans to raise the excise tax on cigarettes so the price rises by 10%. Estimate the

effect the price increase will have on cigarette consumption and consumer spending on cigarettes (in percentage terms).

•Suppose a major brokerage firm advised its clients to buy cigarette stocks under the assumption that, if consumer incomes rise by 50% as expected over the next

decade, cigarette sales will double. What is your reaction to this investment advice?

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