Question

Suppose we increase the overall number of doctors in the U.S. in all fields and specialties of medical practice by equal percentages, which would shif

Answer 1

Answer: hi your question is incomplete below is the complete question

Suppose we increase the overall number of doctors in the U.S. in all fields and specialties of medical practice by equal percentages, which would shift the supply curves in all the respective medical practice markets. Suppose we were to analyze two separate medical practice markets: Plastic Surgery Cardiology Which markets' price would be most impacted by this increase in the supply of doctors? Which markets' quantity would be most impacted by this increase in the supply of doctors?

answer :

Change in Market price = Cardiology

Change in Quantity = Plastic surgery

Step-by-step explanation:

Given that we are analyzing two separate markets with different levels of importance .

The demand for plastic surgery is more elastic when compared with Cardiology and this is due to the importance of Cardiology over plastic surgery.

The market price that will be affected by the increase in doctors supply is Cardiology market price while the Market quantity that would be affected by the increase is quantity of  Plastic surgery