Explain the basic tradeoff a state makes when it tightens regulations on licenses for physicians, pharmacists,...

Explain the basic tradeoff a state makes when it tightens regulations on licenses for physicians, pharmacists, or any other professionals. What are the costs and benefits?

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The main trade off is that it would be more quality physicians and pharmacists or even other professionals that would be in the market and this can increase the quality of Health Care delivery overall but the cost is that many people would be unemployed and apart from that the supply of healthcare will be reduced so that people might not get adequate Health Care delivery on time possible with limited access due to the tightening of the licences on the whole. Therefore one must think of an optimal level where the quality is good for health care as well as the delivery is on time

Rahul Sunny answered 2 years ago

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