Explain the differences among the following three types of government intervention in the health insurance market: (1) public subsidy, (2) mandated insurance benefits, and (3) direct public provision of insurance coverage. If the goal of government intervention is to achieve universal coverage, which strategy is the best (most efficient) in terms of minimizing the deadweight loss?

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Q: Explain how market failure can be used to justify government intervention in medical care markets

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Q: b) Explain with examples why conflict can arise between the policy goals of efficiency and equity in…

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A:

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Market Equilibrium and Failure

The economy of a country or any place depends on the market demand and market supply of goods and services.