In 2017, an article in the Wall Street Journal discussed trends in the health care sector. The

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In 2017, an article in the Wall Street Journal discussed trends in the health care sector. The article noted the “adoption of new health information technology,” using “advanced algorithms and natural-language processing technologies to read and reformat” data on patients. Assuming that health information technology continues to advance, use a graph of the market for medical services to show the effect. Explain any shifts in the demand curve or supply curve and the effect on the equilibrium price and quantity of medical services.

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Economics

ISBN: 978-0134738321

7th edition

Authors: R. Glenn Hubbard, Anthony Patrick O Brien

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