Because it's not a "free market". The supply of doctors is legally limited... It's illegal to practice medicine without being licensed. And the number of licenses granted is limited.
The license limits could be direct, like taxi medallions in New York City... Or the limits can be indirect, like how the AMA defines the number of medical residencies in the United States.
Even in supposedly "free market" countries like the United States, we often have significant restrictions on all sorts of markets. The reasons vary.
The license limits could be direct, like taxi medallions in New York City... Or the limits can be indirect, like how the AMA defines the number of medical residencies in the United States.
Even in supposedly "free market" countries like the United States, we often have significant restrictions on all sorts of markets. The reasons vary.