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Consider Figure 15-2 on page 474 titled ‘the dual market model of nursing home behavior

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Consider Figure 15-2 on page 474 titled ‘the dual market model of nursing home behavior’. The text discusses two potential policy options to address excess demand. Draw one graph corresponding to each option (i.e., total of two graphs), and discuss how the solutions could cause unintentional negative effects. complete solution correct answer key

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[Solved] Consider Figure 15-2 on page 474 titled ‘the dual market model of nursing home behavior

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  • Submitted On 29 Jul, 2015 10:19:03
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Suppose the initial “market of Nursing home” behavior is described by figure1. In the figure, AB and AMRP represent demand and marginal revenue curves for private-pay patients. Line segment BC represents the Medicaid reimbursement rate of PM for the number of individuals eligible for Medicaid coverage in the market area. Line segment CDP identifies the remainder of the private demand curve. The nursing home would admit OQT patients because the marginal revenue of PM = MC. Out of total patients, OQP are private pay and the remaining portion QPQT represents number of Medicaid patients. Private-pay patients pay PP for nursing home care. Because the horizontal distance QPQT representing number of Medicaid patients admitted, is less than the horizontal difference distance BC, showing number of eligible for Medicaid coverage, an excess demand for Medicaid nursing home care exists in the market care. figure1: Two potential policy options to address excess demand are the follow...
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