Warning: Use of undefined constant referer - assumed 'referer' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 102

Warning: Use of undefined constant host - assumed 'host' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 105

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 106

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 109
Demand For Medical Care - College Paper

Demand For Medical Care

The is derived from our demand for good health. Michael Grossman was the first to do econometric research on this topic. “Grossman’s work established two approaches for consideration. In the first, medical care is viewed as an input in the production function for health, and in the second, as an output produced by medical care providers (Henderson, p.142).” There are two main factors that determine the . The first is the patient factor. This includes a patient’s health status, demographic characteristics and economic status. The second is the physician factor. This is an interesting topic because it introduces the principal (patient)-agent (physician) problem. We are faced with ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

not the only thing that improves health. Other factors affecting health status, such as life-style, environmental pollution, and technological developments, will shift the total product curve (TV).” Figure 4.1, on the next page graphically shows that health status obeys the Law of diminishing productivity. The graph below the total product curve is the marginal product curve. The derivative of the total product curve is the marginal product curve. This curve represents the marginal change in health status. You can see this curve is negatively sloped and can be negative. The maximum point on the total product curve is the total amount of health that we can get out of life. You may know from calculus that the slope of a line at a maximum or minimum is zero. If you look down on the corresponding point on the marginal product curve it lies on the x-axis. All medical treatment after this point is negative. What does this mean? Yes, medical treatment can be harmful to your ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.

Already a member? Login

CITE THIS PAGE:

APA
MLA
Chicago
Turabian

Demand For Medical Care. (2004, May 25). Retrieved April 25, 2024, from http://www.essayworld.com/essays/Demand-For-Medical-Care/8373

"Demand For Medical Care." Essayworld.com. Essayworld.com, 25 May. 2004. Web. 25 Apr. 2024. <http://www.essayworld.com/essays/Demand-For-Medical-Care/8373>

"Demand For Medical Care." Essayworld.com. May 25, 2004. Accessed April 25, 2024. http://www.essayworld.com/essays/Demand-For-Medical-Care/8373.

JOIN NOW

Join today and get instant access to this and 50,000+ other essays

PAPER DETAILS

Added: 5/25/2004 01:23:29 AM
Category: Miscellaneous
Type: Premium Paper
Words: 1172
Pages: 5

Save |

Report

SHARE THIS PAPER

SAVED ESSAYS

Save and find your favorite essays easier