Question

Write a brief justification of your answer, including a graph

a. The Covid-19 pandemic has shifted the health total product curve of the patients with pre-existing conditions more than otherwise healthy individuals. Do you agree with this? Please explain with a simple graph shift and a very brief explanation.

b. What is the health utility function?

c. We think that demand for treatment of covid-19 will be more price elastic than demand for treatment of acne. Do you agree?

Answer 1

a The COVID -19 Pandemic has shifted the health total product curve from the pre - existing conditions more than otherwise healthy individuals , I totally agree with this statement because there has been a rise in the problems of health due to the pandemic . From the birth till the death we face many difficulties in our health and these things increase with the age and with the coming of COVID the level has increased to a great extent therefore now the curve has shifted more as people are facing these issues of health at an early age .

B Health Utility function - Health utility is the number that is giving us the information about the number of health condition of the people in the country . This data is basically used for the evaluation by the health care services in different ways . To the manufacture of disease according to the data provided by the health utility . The decision making process for the improvements are done through this health utility function . The statistical data is continuously being collected from the various sources and various direct and indirect methods to increase the services in the healthcare .

C The demand for COVID -19 vaccine will never be more price elastic than the demand for the treatment of Acne because price elasticity is something which brings a change in demand with the reduction or increment in the price . So it is not possible in the case of COVID vaccine as it will be taken even when the price is high . The demand will not fluctuate in this case .