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health care economics

Sent to Health Experts March 13, 2006 1:04 p.m.

I realize that health care costs have been increasing faster than rate of inflation due to 1. increased income for many Americans, 2. more workers, poor people and retirees with insurance 3. wide diffusion of new state-of the art technology and 4. growing number of senior citizens. How will this affect the price and quantity of each of these reasons, how will it affect shift in demand or supply curve, will curve shift right or left and why will the shift occur?

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Sent March 14, 2006 9:05 p.m. (1 day and 8 hours later)

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Sent April 11, 2007 6:00 a.m. (392 days and 8 hours later)

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Economists assume that most people are risk averse. Integrate the concept of risk aversion and the concept of moral hazard to discuss how they might collectively contribute to participation in extreme sports. In other words, talk in terms of the demand for insurance as well as the demand for medical care.

a. What is the impact of both risk aversion and moral hazard on demand for insurance?
b. What is the impact of both risk aversion and moral hazard on demand for medical care?

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