Question: 1. State two supply-side and two demand-side determinants causing high healthcare prices. See Chapter 3, Sec. 3.2. in text for discussion about determinants. (10 points)

1. State two supply-side and two demand-side determinants causing high healthcare prices. See Chapter 3, Sec. 3.2. in text for discussion about determinants. (10 points) 2. What are the opportunity costs of healthcare spending (to households, business, and government)? (5 points) 3. What would be the impact of a price ceiling on healthcare services, instruments, devices, or pharmaceuticals? State two consequences. (5 points)

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