Random Text Book and Related Question- Health Economics & Policy

      Random Text Book and Related Question- Health Economics & Policy Name Institution Date     What goods found in a super market do you believe are inelastic? Where they are usually located? What goods are more elastic? Where are these goods generally located? The demand for necessities mostly tends to be inelastic even with a price rise, there is  aless proportionate fall in the demand for these goods. The goods include water, clothing and food, and are usually located where people can view after shopping for other things. Elastic demands are mostly those with many alternatives and when price increase the total revenue decreases. These products include, furniture, milk, soft drinks and vegetables are elastic as people can choose from various alternatives, and they are located nearer entrance and can be viewed easily when people move in different directions.
We talked about the "flat of the curve" in health care spending as related to the Law of Diminishing Marginal Returns. Why do some argue that the US is on the flat of the curve in the case of US healthcare spending? The flat of the curve in healthcare shows that there is high margin resource use for small marginal gains in the health outcomes and even outcomes remaining unchanged. A larger share of US health care expenditure is for the “flat of the curve” treatments, when compared to other industrialized countries. These countries spend less than the US and have similar better health outcomes and at times outcomes.  ...