Due to rising costs of cosmetic surgery, patients have begun venturing abroad to unregulated markets to obtain desired surgery at a fraction of the cost.
For your Case Study assignment, you are expected to:
isolate several problems inherent in this issue;
discuss the history of the issue;
describe the economic elements of the issue and problems using appropriate terminology; and
detail the current debate on the issue and explain how each “player” (e.g., government, business sector, industry, organization) affects the issue. Papers must be 10-15 pages in length (this would be roughly one page per area included in the report), 10-point font, and double-spaced; they should include a introduction, body of the report, summary or conclusion, and works cited.
Though this is not a scientific writing assignment and is mostly creative in nature, references are still very important. At least six authoritative, outside references are required (anonymous authors or web pages are not acceptable). These should be listed on the last page titled Works Cited.
Appropriate APA citation is required.
Economic analysis of issues/problems with reference to Course Objectives A-G
A: giving the laws of marginal utility and diminishing returns how so they affect a persons respective spending, saving, earning, investing, and gifting behaviors.
B describe in simple graphic or algebraic terms how the law of supply and demand should maximize the collective market utility of both buyer needs/wants and seller availability/capacity; also explain how the role of price as a medium/means of exchange differs in a barter
C: Given unlimited choice, resources, and freedom, assess the utilities to oneself and to others, respectively, of altruism versus selfishness; repeat this exercise assuming a significant limit is imposed on choice, resources, and freedoms.
D:Given a news article or case study of interest to managerial decision makers, demonstrate the value of economic analysis by applying mathematical reasoning to diagnose the situation and support one or more conclusion
E:Given an important life decision involving a career opportunity requiring a relocation with your family, propose cost–benefit analysis criteria for measuring the economic impact of the decision on your quality of life and standard of living
F: discuss the legal and ethical issues surrounding ownership rights to this asset in terms of their economic consequences.