3 ms·
It's easy to evaluate the quality of an apple and there are dozens of substitute goods (other fruit). It's not easy to evaluate the quality of an ultrasound mac
by minikites 7y ago
It's easy to evaluate the quality of an apple and there are dozens of substitute goods (other fruit). It's not easy to evaluate the quality of an ultrasound machine, the staff required to operate it, and their interpretation of the results. Depending on the medical issue, there may not be a substitute good (procedure).
Medicine does not work with market principles.
- wrs 7y agoI disagree, I would think that imaging centers produce comparable results. On the medical side, the substitute good isn't a different procedure, it's the same procedure done by a different provider. Most people do not currently make any of those evaluations anyway, so as far as the consumer is concerned, they are de facto substitute goods since they have no rationale for making a choice.