What are the likely consequences of the following events in the U.S. market for cosmetic surgery?

Question

2. What are the likely consequences of the following events in the U.S. market for cosmetic surgery? Does the supply curve or the demand curve shift? In which direction? State whether the equilibrium price and quantity increase, decrease, or stay the same.

a. Health insurance coverage is expanded to cover all elective procedures, such as tummy tucks, nose jobs, and liposuction.



b. Personal finance companies start a nationwide lending program for cosmetic procedures not covered by health insurance.


c. Medical malpractice insurance premiums increase for plastic surgeons.

Answer 1

a. health insurance companies either go broke, or everyone's premiums triple - which they won't be able to afford, so they go uninsured.

b. they already do this. ANYONE who can get a personal loan, doesn't have to say what the money is for.

c. well, that happens every year, too.

So there's no new consequence for b & c, as they are already REGULAR events.

Answer 2

this is how i've got self assurance approximately it: i do no longer possibly care what human beings do to themselves. they are no longer hurting each physique else, so this is not any longer for me to choose. If it somewhat makes them sense greater helpful approximately themselves, then it somewhat is particularly cool and that i might say it somewhat is a superb ingredient. i discover many of the ameliorations human beings make to their visual allure to be unattractive. it somewhat is a controversy of non-public flavor, and that i oftentimes think of persons seems greater helpful the way they have been born. i think of it somewhat is a egocentric thank you to spend extra money. although, i do no longer think of that each physique people who've plastic surgical treatment are egocentric. If the surgical treatment is correctional (i.e. a individual exchange into mutilated in a vehicle twist of fate, has broken their nostril some cases, exchange into born with a deformity, and so on), I see no longer something incorrect with it.

Answer 3

IF IT'S ON , THE SOONER THE BETTER. MORE PEOPLE WILL FEEL BETTER ABOUT THEMSELVES, AND BE HAPPIER.