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Review of the Basic PrincipIes and Concepts
Differences in the Market for Health Care from
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achieve aggregate supply amount approach average behavior benefit curve benefit function bill central planner Chapter consider constrained maximization consumer cost curve decrease determined discussed distribution East North Central economists effect efficiency Equation example expenditures facilities factors factors of production Figure firm FMGs foreign medical goal health care sector hospital services incentives income increases indifference curves individuals inputs isoquant kind labor linear programming man-years manpower marginal benefit marginal cost maximization models medical graduates medical schools medical services objective function optimal output Pareto-optimal patients Pauly and Redisch percent physicians population price instrument price ratio problem produce production function profit maximization programs proposals quantity instrument redistribution region residency positions result shadow price social specialty subsidies substitutes suppliers third party tion uncertainty underserved areas United utility function variables welfare economics