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1) Your pharmacy provides services to Medicare and PPO patients. You estimate a price elasticity of demand of -2.2 for Medicare patients and -5.3 for PPO patients. Your marginal and average cost for dispensing a prescription is $2. What is the profit-maximizing dispensing fee for Medicare and PPO patients? Why might the price elasticities of demand differ?
2) Your dental clinic provides 3,000 exams for private pay patients and 1,000 exams for members of a union. Your fixed costs are $50,000 and your incremental cost is $40.
A. Private pay patients have a price elasticity of demand of -3. What do you charge them?
B. The union has negotiated a fee of $50. Is it profitable to treat members of the union?
C. What would happen to your profits if you stopped treating members of the union?
D. If the union negotiated a fee of $45 instead, what would you charge private pay patients?
E. What does this tell you about cost shifting versus price discrimination?
Calculate the amount of former foreign monopoly profit that is transferred as tariff revenue to the home country when the home country imposes the tariff.
Apply the coefficient-of-variation decision criterion to these alternatives to find out which is preferred by the angel investor, assuming that he/she is risk-averse.
Which of the following statements describes how the emergence of social media has transformed the way we do business?
Consumers often identify brand names with quality. Do you think branded products usually are of higher quality than generic products and therefore justify their higher prices
Cole has $27 that he plans to spend purchasing 5 units of good X (priced at $3 per unit) and 6 units of good Y (priced at $2 per unit). The marginal utility of the fifth unit of X is 30, and the marginal utility of the sixth unit of Y is 30.
A woman wishes to make a uniform deposit every three months to her savings account so that at the end of 10 years she will have $10,000 in the account. If the account earns 6% annual interest, compounded quarterly how much should she deposit each thr..
Your task is to use information about existing economic conditions to forecast U.S. and Canadian interest rates. The following information is available to you. Over the past six months, U.S. interest rate have declined, and Canadian interest rate hav..
Define also Elucidate the three important components of organizational architecture responsible for the success or failure of an organizational design
explain exactly how you would take advantage of this situation to create a riskless profit.
Illustrate what is the difference among the short-run also the long-run for a perfectly competitive firm in terms of costs also profits.
Which level of measurement conveys the most information? Which of the following is NOT an example of reliability? What is one way to obtain a criterion validity measurement?
If Anne is planning to invest her loan in an asset which she hopes to turn a profit on, Illustrate what is the minimum rate of return she needs to earn.
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