In 1996, a group of american doctors called for a limit on the number of foreign-trained physicians permitted to practice in the united states. what effect would such a limit have on the equilibrium quantity and price of doctor services in the united states?

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15-01-2019
Social Studies

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In 1996, a group of american doctors called for a limit on the number of foreign-trained physicians permitted to practice in the united states. what effect would such a limit have on the equilibrium quantity and price of doctor services in the united states?

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mooreorlando727 mooreorlando727 · Answer 1 · 2019-01-25T07:13:13+01:00

Equilibrium is when the supply and demand curves intersect, in other words, quantity demanded and quantity supplied are equal.

Now back to your question, a limit on the number of foreign-trained physicians permitted to practice in the united states will certainly reduce the number of physicians in the country.

The effect of such a limit on the equilibrium quantity and price of doctors is that the market price will fall below the equilibrium price, this means that the quantity of doctors supplied is lesser than the quantity demanded, this will result in a shortage of physicians, and eventually the Market price will rise because of this shortage. In other words, Americans will have to spend more on doctor services.

Martebi Martebi · Answer 2 · 2022-03-11T11:13:15+01:00

The effect that this limit will have on the equilibrium quantity and price of doctor services in the united states is that;

It is likely that the equilibrium price of doctor services would increase and the equilibrium quantity of doctor services would decrease.

Equilibrium quantity is known to be a kind of scenario where there is no shortage or surplus of a specific product in the market.

Here, Supply and demand are said to intersect, showing that the amount of an item that consumers want to buy is said to be equal to the amount being supplied by its producer.

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In​ 1996, a group of american doctors called for a limit on the number of​ foreign-trained physicians permitted to practice in the united states. what effect would such a limit have on the equilibrium quantity and price of doctor services in the united​ states?

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In 1996, a group of american doctors called for a limit on the number of foreign-trained physicians permitted to practice in the united states. what effect would such a limit have on the equilibrium quantity and price of doctor services in the united states?