The equilibrium price for physiotherapy visits is 30 and, Ask an Expert

Economics

The equilibrium price for physiotherapy visits is $30 and the quantity utilized is 150 visits as a result of the demand and supply conditions in this diagram. The state legislature is concerned that the current price does not give the physiotherapists enough incentive to produce a high volume of services. A proposal has been made to increase the price paid by the consumers to the suppliers to $40. What will the resulting quantities demanded and supplied and the resulting utilization be?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9493811

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