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Question: assume that new and improved technology replaces some of the...

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Assume that new and improved technology replaces some of the tasks traditionally performed by registered nurses (RNs), such as monitoring patients. Trace through the effect of such a technological change in each of the medical care markets including the markets for RNs, RN education, hospital services, and health insurance. Show your answers on the graphs provided on the next page and state what happens to equilibrium quantity and price under each graph.

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