At what point does more not equal better? This is a question many economists struggle with, but when the consumable good is years of life, everyone turns into an amateur economist. Refer to Figure 1 in The Pragmatist’s Guide to Comparative Effectiveness Research article and discuss your response to this question. In your response, consider the following questions: Which point on the curve do you advocate for and why? What are the differences of the various points on the curve?

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Economists pride themselves on their ability to make sound decisions about public policy and issues affecting society. However, there are unique circumstances when being an economist makes no sense, especially in healthcare economics. Healthcare and human life are essential issues that require prudent decisions since they attract the attention of voters and citizens across the United States. It is impossible to quantify and specify a cost to human life; therefore, the discussion on healthcare costs is controversial.

Cost effectiveness and comparative efficiency in a health care production function.

The U.S. devotes a significant portion of its gross domestic product (GDP) to healthcare provision. Such costs make the U.S. continue to struggle with healthcare prices that keep increasing. Figure 1 in the assigned research article explores how to make healthcare decisions and achieve allocative and productive efficiency. I would choose point C on the healthcare production possibility curve. Point C on the curve represents allocative and productive efficiency. When the healthcare economy is operating at point C, there is a balance between costs and the survival rates or quality of life among patients in the United States.

In addition, point C is the most cost-effective option for healthcare at the current time. It shows how scarce resources are directed toward producing the best quality of life possible without compromising the provision of other core government programs. I chose point C because it represents the most realistic choice in the modern world today. For example, the United States has to balance healthcare costs and maximize its efficiency in order to allocate money to other programs that keep the country running. Points D, E, C, and B are represented on the curve, with point D having the lowest cost and quality of life.

It shows a system that needs to utilize comparative research to understand what works. The economy moves to point E, where the quality of life and associated costs have slightly increased over point D. Finally, point B represents the highest possible quality of life; however, it is the most expensive, showing a waste of resources.

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Academic.Tips. (2022) 'At what point does more not equal better? This is a question many economists struggle with, but when the consumable good is years of life, everyone turns into an amateur economist. Refer to Figure 1 in The Pragmatist's Guide to Comparative Effectiveness Research article and discuss your response to this question. In your response, consider the following questions: Which point on the curve do you advocate for and why? What are the differences of the various points on the curve'. 7 December.

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Academic.Tips. (2022, December 7). At what point does more not equal better? This is a question many economists struggle with, but when the consumable good is years of life, everyone turns into an amateur economist. Refer to Figure 1 in The Pragmatist's Guide to Comparative Effectiveness Research article and discuss your response to this question. In your response, consider the following questions: Which point on the curve do you advocate for and why? What are the differences of the various points on the curve? https://academic.tips/question/at-what-point-does-more-not-equal-better-this-is-a-question-many-economists-struggle-with-but-when-the-consumable-good-is-years-of-life-everyone-turns-into-an-amateur-economist-refer-to-figure-1-i/

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Academic.Tips. 2022. "At what point does more not equal better? This is a question many economists struggle with, but when the consumable good is years of life, everyone turns into an amateur economist. Refer to Figure 1 in The Pragmatist's Guide to Comparative Effectiveness Research article and discuss your response to this question. In your response, consider the following questions: Which point on the curve do you advocate for and why? What are the differences of the various points on the curve?" December 7, 2022. https://academic.tips/question/at-what-point-does-more-not-equal-better-this-is-a-question-many-economists-struggle-with-but-when-the-consumable-good-is-years-of-life-everyone-turns-into-an-amateur-economist-refer-to-figure-1-i/.

1. Academic.Tips. "At what point does more not equal better? This is a question many economists struggle with, but when the consumable good is years of life, everyone turns into an amateur economist. Refer to Figure 1 in The Pragmatist's Guide to Comparative Effectiveness Research article and discuss your response to this question. In your response, consider the following questions: Which point on the curve do you advocate for and why? What are the differences of the various points on the curve?" December 7, 2022. https://academic.tips/question/at-what-point-does-more-not-equal-better-this-is-a-question-many-economists-struggle-with-but-when-the-consumable-good-is-years-of-life-everyone-turns-into-an-amateur-economist-refer-to-figure-1-i/.

Bibliography

Academic.Tips. "At what point does more not equal better? This is a question many economists struggle with, but when the consumable good is years of life, everyone turns into an amateur economist. Refer to Figure 1 in The Pragmatist's Guide to Comparative Effectiveness Research article and discuss your response to this question. In your response, consider the following questions: Which point on the curve do you advocate for and why? What are the differences of the various points on the curve?" December 7, 2022. https://academic.tips/question/at-what-point-does-more-not-equal-better-this-is-a-question-many-economists-struggle-with-but-when-the-consumable-good-is-years-of-life-everyone-turns-into-an-amateur-economist-refer-to-figure-1-i/.

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"At what point does more not equal better? This is a question many economists struggle with, but when the consumable good is years of life, everyone turns into an amateur economist. Refer to Figure 1 in The Pragmatist's Guide to Comparative Effectiveness Research article and discuss your response to this question. In your response, consider the following questions: Which point on the curve do you advocate for and why? What are the differences of the various points on the curve?" Academic.Tips, 7 Dec. 2022, academic.tips/question/at-what-point-does-more-not-equal-better-this-is-a-question-many-economists-struggle-with-but-when-the-consumable-good-is-years-of-life-everyone-turns-into-an-amateur-economist-refer-to-figure-1-i/.

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