Question

If a maximum price is set for consumers to use alternative private health care services so...

If a maximum price is set for consumers to use alternative private health care services so they cant be charged more than a set price making alternative services to be accessed easier, what will this mean for the demand in the public health sector will this decrease waiting lists/times?

Further, express this through the use of a graph/model

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Answer #1

Setting price ceilings or maximum usage price will spur demand and consumption and consequently the pressure for affordable healthcare will increase causing supply shortage of healthcare professionals and thus increasing waiting times for healthcare services.

subsequently this will lead to rise in wages for healthcare workers and thus the prpfit maximsiing point based on Pauly Redisch Model occurs when ARP=MRP.

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