4 ms·

Markets can work fine with inelastic demand if there is adequate information, freedom of choice and proper regulations.

• WaxProlix 4y ago
  More like, could than can as far as I can see. Markets kick ass under certain circumstances, but in some areas it's almost impossibly hard to achieve those circumstances.
  • shkkmo 4y ago
    My point is that I don't think the inelasticity of demand is why the healthcare markets work so poorly.
• adgjlsfhk1 4y ago
  the problem is that some markets inherently can't have adequate information because the customers by nature of being customers don't have time to shop around.
• ryan93 4y ago
  Unfortunately government restricted the supply of doctors below population growth.