Article Summary
More than a million Americans are estimated to have gone to other countries in 2014 for medical procedures.Documentary filmmaker Morgan Spurlock was among those Americans who travelled abroad in 2014 to partake in what is being referred to as "medical tourism." From his own experience and those of others who had also travelled for medical procedures,Spurlock found that there can be distinct advantages to medical tourism for certain patients and procedures.Those advantages include: The level of care offered in many hospitals,with the best hospitals reportedly meeting or exceeding Western standards;Significantly lower costs,examples of which include a heart bypass operation in the United States that typically runs $88,000 can cost as little as $31,500 in Costa Rica,and hip replacement surgery that averages $33,000 domestically is only $12,400 in Thailand;The ability to combine medical procedures with vacations to amazing locations around the globe.
-Refer to the Article Summary.Assume that foreign governments begin to publicize their existing medical services to American medical tourists and more Americans consider hip-replacement surgery to improve their quality of life.What will happen in the market for hip-replacement surgery as a result of these two factors?
A) Demand will increase,but these two factors will not shift the supply curve.
B) Supply will increase,but these two factors will not shift the demand curve.
C) Demand and supply will both increase.
D) Demand will increase and supply will decrease.
Correct Answer:
Verified
Q202: Suppose a positive technological change in the
Q224: In most countries in South America,the legal
Q225: If the number of firms producing electric
Q229: If the demand for a product increases
Q232: If the population increases and input prices
Q233: If the demand for a product increases
Q233: If pilots and flight attendants agree to
Q234: Discuss the correct and incorrect economic analysis
Q242: In each of the following situations, list
Q465: Shrimp is an increasingly popular part of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents