Answer the following questions. 1. Explain the impact each of the following would have on thequantit

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Answer the following questions. 1. Explain the impact each of the following would have on thequantity demanded of health insurance. A. An increase in the tax-exempt fraction of health insurancepremiums B. A decrease in buyer income C. A decrease in per capita medical expenditures D. New technologies that enable medical illnesses to bepredicted more accurately E. A tendency among buyers to become more risk-averse, onaverage 2.    Suppose you were to specify ashort-run total cost function for a nursing home. Explain thevariables you would include in the function. Which of thesevariables would be included in short-run fixed costs and whichwould be in short-run variable costs. Justify your selections. 3. Suppose that with 400 patients per year, the SAFC, SATC, andSMC of operating a physician clinic are $10, $35, and $30 perpatient, respectively. Furthermore, suppose the physician decidesto increase the annual patient load by one more patient. Usingshort-run cost theory, explain the impact of this additionalpatient on the SAVC and SATC. Do they increase or decrease?Why? . . .

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