Describe shape of supply curve in the mcguire-pauly model

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Question 1: Describe the shape of the supply curve in the McGuire-Pauly model of physician-induced demand. Is this shape the same as a traditional supply curve? Please explain your answer in 2 sentences.

Question 2: True or False? An upward-sloping marginal cost curve represents the adverse selection property of insurance markets. Please justify your answer in 2 sentences.

Reference no: EM133328420

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