The constantly increasing cost and prices of services

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The constantly increasing cost and prices of services

The constantly increasing cost and prices of services are mainly due to a rapid increase in demand of the service in excess of the supply. It is common economic knowledge that purely competitive markets are able to attain production and allocation efficiency. On the other hand, imperfect competition markets are faced with a wide range factors that limit them in achieving utmost market efficiency. The demand curve for healthcare service is downward sloping just like that of a normal good or service. Healthcare service consumers are also sensitive to changes in price and quality of the service. This explains the movements that are experienced on the health service demand curve. Assuming that health care service includes medication prices, medical drugs among other medical related costs are represented in units, consumption of the service may be represented as shown in the graph below (cited in Patel & Rushefsky, 2014). The above graphical representation above shows a normal curve for demand and supply of the healthcare service in the U.S. P* represents the price per unit of the health care service while Q* represents the unit quantity demanded. D and S represent the level of demand and supply respectively. The demand and supply meets at the equilibrium which produces the most efficient and effective price for the service given by normal market or economic forces. The pricing for health services is however somewhat complicated due to the financing. The increasing demand of health services has however triggered the upward shift of the prices…” Please feel free to place an order for a similar paper and any other academic and professional writing task with us to receive a high quality plagiarism free work. We have numerous A+ papers in our database for you. We offer pocket friendly custom written essay to aid our customers in learning the tricks involved in writing custom papers and essays. Our insight is borrowed from all the papers we have written for other students all around the world-teaching students and other professionals the standards that have been set for custom written essays and papers all around the world. BestAcademicExperts.com is an international company, which is has gained acceptance to students all around the world due to their emphasis on custom written papers and custom written essays since they work on strict timelines and deliver the papers without fail as required by the customers. You can also contact us any time for assistance.

The constantly increasing cost and prices of services are mainly due to a rapid increase in demand of the service in excess of the supply. It is common economic knowledge that purely competitive markets are able to attain production and allocation efficiency. On the other hand, imperfect competition markets are faced with a wide range factors that limit them in achieving utmost market efficiency. The demand curve for healthcare service is downward sloping just like that of a normal good or service. Healthcare service consumers are also sensitive to changes in price and quality of the service. This explains the movements that are experienced on the health service demand curve. Assuming that health care service includes medication prices, medical drugs among other medical related costs are represented in units, consumption of the service may be represented as shown in the graph below (cited in Patel & Rushefsky, 2014).

The above graphical representation above shows a normal curve for demand and supply of the healthcare service in the U.S. P* represents the price per unit of the health care service while Q* represents the unit quantity demanded. D and S represent the level of demand and supply respectively. The demand and supply meets at the equilibrium which produces the most efficient and effective price for the service given by normal market or economic forces. The pricing for health services is however somewhat complicated due to the financing. The increasing demand of health services has however triggered the upward shift of the prices…”

Please feel free to place an order for a similar paper and any other academic and professional writing task with us to receive a high quality plagiarism free work. We have numerous A+ papers in our database for you. We offer pocket friendly custom written essay to aid our customers in learning the tricks involved in writing custom papers and essays. Our insight is borrowed from all the papers we have written for other students all around the world-teaching students and other professionals the standards that have been set for custom written essays and papers all around the world. BestAcademicExperts.com is an international company, which is has gained acceptance to students all around the world due to their emphasis on custom written papers and custom written essays since they work on strict timelines and deliver the papers without fail as required by the customers. You can also contact us any time for assistance.


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