Licensure of physicians means
that to some extent, the supply of physicians can be viewed as a...

Question

Licensure of physicians means 
that to some extent, the supply of physicians can be viewed as a 
vertical line. Explain what this means for the price of physician 
services. How might this change over time? (Consider reimbursement, 
physician supply and substitution)

Robert · Accepted Answer

Licensure of physicians means that to some extent, the supply of physicians can be viewed as a 
vertical line. Explain what this means for the price of physician services. How might this change 
over time? (Consider reimbursement, physician supply and substitution) : 
Answer: 
When supply curve of physicians is vertical line,

Licensure of physicians means that to some extent, the supply of physicians can be viewed as a vertical line. Explain what this means for the price of physician services. How might this change over...

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