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I need help with this problem. Thank you so much! I’m having a hard time with the answers/problem solving Attachment 1

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I need help with this problem. Thank you so much! I’m having a hard time with the answers/problem solving
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HMGT435 Health Care Economics Summer 2017 Assignment #31.A State Government decides to reduce spending on educaTon and cut its fnancial supportto nursing colleges. ±hereFore, 8 over 25 colleges that train nurses are shut down. Discuss itsimpact using supply and demand curves on the Following markets. You need to select onegraph with your discussion For each quesTon.a.How will the demand or supply curve change in the markets For nursing schooling?How will it a²ect the changes in equilibrium tuiTon (Price) and number oF nursingstudents (QuanTty)? (10%)b.³rom a, how the demand or supply curve change in the labor markets For nurses?How will it a²ect the changes in equilibrium wage (Price) and number oF nurses(QuanTty)? (10%)c.³rom b, how the demand or supply curve change in the markets For health services?How will it a²ect the changes in equilibrium charge amount (Price) and number oFservices (QuanTty)? (10%)2.±he Following graphs is a demand curve and a supply curve For the market oF ´u shot service.However, this equilibrium is done without the consideraTon oF externaliTes at eitherdemand side or supply side. We assume this equilibrium is done by a private marginalbeneft (demand) curve and a private marginal cost (supply) curve.a.±he consumers purchase this service without considering “herd protecTon”, whichmeans the protecTon oF the unvaccinated populaTon in addiTon to consumersthemselves. Discuss the type oF externality exisTng For this case. Indicate a posiTveor negaTve externality at demand or supply side. (10%)
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b.Where should be a social demand curve located in the graph? Choose a graph fromthe study material. (10%)c.Suppose tax and subsidy are the two only strategies a government can do. What isyour suggesTon for government intervenTon? ±ax or Subsidize the consumers orproducers? Answer this quesTon based on the previous result. (10%)3.±he following graph shows the market supply and demand curve for portable ultrasoundmachine in the United States. Assume this is a perfectly compeTTve market.a.What is the equilibrium price and quanTty in this market? (10%)b.In order to support the portable ultrasound machine industry, the FederalGovernment set a price ²oor of $300 per machine. What is the quanTty demandedand quanTty supplied at $300 per machine? (10%)c.From b, would there be a shortage or a surplus of machine? (5%)4.QuesTons about average product(AP) and marginal product(MP). Brie²y answer thefollowing quesTons.a.What is special about the intersecTon between average product and marginalproduct? (5%)b.If the slope of the total product curve becomes steeper as quanTty of an input usedincreases, what is true about the marginal product curve for that input? (the MP isincreasing or decreasing) (5%)QuanTty ofPrice permachine$300$200$1001,500K1,000K500KDemandSupply
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