Answer the following questions. 1. Explain the impact each of the following would have on thequantit

Answer the following questions. 1. Explain the impact each of the following would have on thequantity demanded of health insurance. A. An increase in the tax-exempt fraction of health insurancepremiums B. A decrease in buyer income C. A decrease in per capita medical expenditures D. New technologies that enable medical illnesses to bepredicted more accurately E. A tendency among buyers to become more risk-averse, onaverage 2.    Suppose you were to specify ashort-run total cost function for a nursing home. Explain thevariables you would include in the function. Which of thesevariables would be included in short-run fixed costs and whichwould be in short-run variable costs. Justify your selections. 3. Suppose that with 400 patients per year, the SAFC, SATC, andSMC of operating a physician clinic are $10, $35, and $30 perpatient, respectively. Furthermore, suppose the physician decidesto increase the annual patient load by one more patient. Usingshort-run cost theory, explain the impact of this additionalpatient on the SAVC and SATC. Do they increase or decrease?Why? . . .

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