Analyzing the price system in medical service substitution

Reference no: EM1316644

1. Is the price system a "just" or "fair" way to allocate products: What about medical Services

2. What are substitution and income effects related to the Law of Demand? Use the price of gas again and what substitutions have or could happen as a result in the rise of cost per gallon. Please use consumer behaviour as an example as well and what effect the change could have on other parts of our society

Reference no: EM1316644

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