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Economics

Using a supply-and-demand graph and assuming competitive markets, show and describe the effect on equilibrium price and quantity of the following:

1. Increased graduations of new doctors on the market for physician services

2. The virtual elimination of smoking in the population on the market for hospital services

3. A technological change that reduces the cost of producing X-Rays on the market for physician clinic services

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91224077

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