Assumptions Underlying the Competitive Model and Implications for Markets and Government

1) Describe what is meant by welfare economics.

2) Which theory of regulation most closely fits with your perception of who is served by the regulation of healthcare markets? Give two current examples supporting your perception with evidence for your position. These examples may be state or federal.

3) You may use AI to help investigate this policy. The 2021 Consolidated Appropriations Act passed that established a new framework to protect patients from surprise bills for emergency services and non-emergency services provided by out of network providers at an in network facility. What interest groups were for and what ones were against the policy. Now using the concepts in the chapter, in your own opinion, briefly explain which theory of regulation its passage supports.

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