Health Economics and Financing - Economics Assignment Help
Assignment Task
Instructions: Answer all questions.
- The core management of Apollo hospitals in Delhi is considering recruiting another radiologist for its Oncology department. Explain how the management arrives at a decision on whether to go ahead with the recruitment.
- Suppose consumers consume and gain utility from two types of goods and services – (1) health care & (2) all other goods & services. Using this information derive the demand curve for health care.
- Discuss the different ways in which asymmetric information and its consequences play a role in health care.
- Suppose you are in charge of public health in Delhi. State with reasons, two goods/services/activities that you would propose to subsidise and another two that you would propose to tax/fine.
- Which are more price elastic and why – (1) dental visits or visits for the treatment of diabetes (2) outpatient or inpatient services (3) Psychiatry visits or Orthopaedics visits.
- Explain the different ways of financing health care in a country. In a developing country context, which according to you is the best way and why? Why are the others not preferable?
- Suppose the price of good X is Rs.5 and the price of good Y is Rs.10 and a household has Rs. 500 to spend per month on goods X and Y. a. Sketch the household budget constraint. b. Assume that the household splits its income equally between X and Y. Show where the household ends up on the budget constraint. c. Suppose the household income doubles to Rs.1,000. Sketch the new budget constraint facing the household. d. Suppose after the change the household spends Rs. 200 on Y and Rs. 800 on X. Does this imply that X is a normal or an inferior good? What about Y?
- What is a production function? What according to you a health production function would look like, assuming that health is not something one is born with but is produced? Would a health care production function be different from a health production function? Why and how?
- Explain the conditions under which a pharmaceutical firm will
(1) shut down and
(2) exit from the market. Use graphs wherever necessary. During the pandemic why did several hotels and restaurants shut down?
- Cipla produces generic antibiotics in a factory that uses capital in the form of machines and labour who work on those machines. The relationship between the number of workers employed and the number of anti-biotic strips produced is given in the table below. The wage paid to a worker is INR 750 and the firm has a fixed cost of INR 1500. Each strip of antibiotic is sold at a price of INR 100. Fill in the empty cells in the table below using the information above. Make at least two comments on what you observe.
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