MARC details
| 000 -LEADER |
|---|
| fixed length control field |
02840nmm a2200241 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
221114b2021 |||||||| |||| 00| 0 eng d |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER |
|---|
| Classification number |
SP2021/3136 |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Singh, Nishant Ketan |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
Impact of price capping in the market of Covid tests |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
|---|
| Place of publication, distribution, etc |
Ahmedabad |
| Name of publisher, distributor, etc |
Indian Institue of Management |
| Date of publication, distribution, etc |
2021 |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
8p., ill. |
| 500 ## - GENERAL NOTE |
|---|
| General note |
Submitted to Prof. Tarun Jain<br/>Submitted by: Nishant Ketan Singh (20138) & Srishti Jain (20171)<br/><br/> |
| 504 ## - BIBLIOGRAPHY, ETC. NOTE |
|---|
| Bibliography, etc |
With the first case of COVID-19 discovered in December’19 in Wuhan, China, COVID came<br/>knocking on India’s doors in January’20. With the first lockdown announced in March’20 in<br/>India, it was clear that rough times lay ahead.<br/>With a sudden outburst in COVID-19 in the Indian subcontinent, the previously controlled RTPCR<br/>and antigen tests were made available to the public. Given that the kits along with their<br/>constituent components were globally in short supply, their prices should have increased in line<br/>with microeconomic laws of demand and supply. But in April’20, Supreme Court of India made<br/>COVID-19 testing in private labs free for people covered under the Ayushman Bharat scheme<br/>and other economically weaker sections of the society while approving the ICMR cap of Rs. 4500<br/>for general private lab tests.<br/>A price-cap on a commodity sets an upper limit on the price, below the free market price, that<br/>the diagnostic tests provider can charge. As microeconomics theory suggests, this price capping<br/>is introduced to protect the consumers from monopolistic exploitation while still maintaining a<br/>profitable business for the provider. It insists the laboratories to improve their operational<br/>efficiency and reduce the costs per test to maintain profit margins.<br/>Although there are several contentions that the price cap set by ICMR was still way above the<br/>actual costs of these tests, there was a marked shortage in availability of these tests for people<br/>to get done freely. The price cap set by the government of India on the RT-PCR tests might have<br/>led to its marked shortage i.e., as per laws of demand and supply considering price caps. This<br/>could have resulted in inefficiencies in the testing market resulting in Q* of diagnostic tests<br/>being less than the optimal quantity and consequently dead weight loss in the total achievable<br/>surplus. In light of this market inefficiency, a possibility of the emergence of a parallel market<br/>for COVID testing is also present. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Covid-19 |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Covid-19 India |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
RT-PCR |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Antigen tests |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
COVID-19 testing |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Ayushman Bharat scheme |
| 700 ## - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Jain, Srishti |
| Relator term |
Co-author |
| 856 ## - ELECTRONIC LOCATION AND ACCESS |
|---|
| Materials specified |
e-project |
| Uniform Resource Identifier |
http://hdl.handle.net/11718/26191 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Koha item type |
Student Project |
