1. Using supply-and-demand analysis, model the equilibrium level of physicians’ wages. What would be the impact on physicians’ wages of more stringent policies on the employment of foreign medical...

1. Using supply-and-demand analysis, model the equilibrium level of physicians’ wages. What would be the impact on physicians’ wages of more stringent policies on the employment of foreign medical school graduates?

2. Suppose that the licensure requirements for health care providers were eliminated. Use supply-and-demand analysis to predict what may happen to the price and quantity of health care services. Are there other considerations—in particular, mechanisms—that could evolve to replace licensure?