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Physicians are paid at fixed rate

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Suppose that physicians are paid at a fixed rate. This rate is determined by insurance companies and stays constant for at least 3 years. Suppose that the policymaker also passes legislation to subsidize health insurance for low income households. Discuss and illustrate in a graph (using both demand and supply curves) the impact of the subsidy on the physicians' market. What is the X-axis and what is in the Y-axis? Be specific.

Reference no: EM133392529

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