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ch02.pptGetzen’s Health Economics & Financing, 5th Edition
Copyright © John Wiley & Sons, Inc.
Chapter 2: Demand and Supply
QUESTIONS
What is the difference between Mr. Axel’s demand for physical therapy, and his need for physical therapy?
Is price the only thing that matters? What is the difference between price and value ?
Why would a life-saving cardiac drug cost less than one providing only temporary symptomatic relief ?
Do buyers and sellers face the same demand curve?
QUESTIONS cont.
Can better quality actually decrease demand?
Which is more sensitive to price changes—one person, one firm, or the whole market?
Is the price of a treatment determined by the cost of production? Or by the benefits it produces? Measured in total, on average, or at the margin?
Do politicians face demand curves?
2.1 THE DEMAND CURVE
- The Diamonds–Water Paradox: An Example of Marginal Analysis
- Consumer Surplus: Marginal versus Average Value of Medicine
- Angioplasty and Aspirin
- Perceptions: A Water–Water Paradox
- Ceteris Paribus
- Individual, Firm, and Market Demand Curves
2.2 THE SUPPLY CURVE
- Marginal Revenue
2.3 PRICE SENSITIVITY
Price Elasticity = % Change in Quantity /
% Change in Price
Price Elasticity and Marginal Revenue
Price Discrimination
2.4 IS MONEY THE ONLY PRICE?
2.5 INPUTS AND PRODUCTION FUNCTIONS
- Production Functions
- Marginal Productivity
Price Input A Marginal Productivity of A
---------------- = -------------------------------
Price Input B = Marginal Productivity of B
2.6 MARKETS: THE INTERSECTION OF DEMAND AND SUPPLY
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2.7 NEED VERSUS DEMAND
- How Much is a Doctor Visit Worth?
- The Demand for Medical Care Is Derived Demand
- The Demand for Health: What Makes Medical Care Different
2.8 DETERMINANTS OF HEALTH
2.9 EFFICIENCY
Copyright 2013 John Wiley & Sons, Inc.
