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Unformatted text preview: provided. People pay a certain price for health care whether they use the service of not. If the public knows that if they have a need for the health care, and the quality of the procedure is better, then it is worth paying the extra money for a premium. Also, by increasing the quality of the instruments used and making it easier for doctors to perform these procedures, this decreases the time needed for the operation. If it takes less time to do the operation then that means more operations can be done in the extra time....
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This note was uploaded on 04/03/2008 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.
- Spring '08