Question: Using a supply-and-demand graph and assuming competitive markets, show and explain the effect on equilibrium price and quantity of the following: (a) A technological change

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

(a) A technological change that reduces the cost of producing X-rays on the market for physician clinic services.

(b) Increased graduations of new doctors on the market for physician services.

(d) A price ceiling placed on physician fees in the market for physician services.

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