10.3. Pet health care. As documented in a recent paper, the markets for pet health care and human health care are similar in many respects. Specifically, in both markets we observe (i) rapid 10.2. CONSUMER PROTECTION 424 growth in spending over the last two decades; (ii) a strong income- spending gradient; (iii) rapid growth in the employment of health- care providers; and (iv) a similar propensity for high spending at the end of life in pets and humans. However, insurance is much less common in pet care, and regulation or government involvement more broadly — is not as prevalent in pet health care. What does this tell us about the reasons behind the "health care puzzle," namely the fact that the US spends about twice as much in human health care as comparable developed nations?

10.3. Pet health care. As documented in a recent paper, the markets for pet health care and human health care are similar in many respects. Specifically, in both markets we observe (i) rapid 10.2. CONSUMER PROTECTION 424 growth in spending over the last two decades; (ii) a strong income- spending gradient; (iii) rapid growth in the employment of health- care providers; and (iv) a similar propensity for high spending at the end of life in pets and humans. However, insurance is much less common in pet care, and regulation or government involvement more broadly — is not as prevalent in pet health care. What does this tell us about the reasons behind the "health care puzzle," namely the fact that the US spends about twice as much in human health care as comparable developed nations?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

10.3

help me and explain

10.3. Pet health care. As documented in a recent paper, the
markets for pet health care and human health care are similar in
many respects. Specifically, in both markets we observe (i) rapid
10.2. CONSUMER PROTECTION
424
growth in spending over the last two decades; (ii) a strong income-
spending gradient; (iii) rapid growth in the employment of health-
care providers; and (iv) a similar propensity for high spending at the
end of life in pets and humans. However, insurance is much less
common in pet care, and regulation - or government involvement
more broadly - is not as prevalent in pet health care. What does this
tell us about the reasons behind the "health care puzzle," namely the
fact that the US spends about twice as much in human health care as
comparable developed nations?

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