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Cross-regional studies of medical practice variations an comparisons of individual physicians' "styles" show considerable differences between the rates of use of medial care across providers. Presuming (for the moment) that the populations being treated in these comparisons are equivalent (or sufficiently so to ignore the differences), would you say that these studies show (a) that some doctors treat too much; (b) some doctors don't treat enough; (c) both; (d) neither; or (e) we can't tell from data such as that? Explain your conclusion.
The Bureau of Labor Statistics generally uses 90% confidence levels in its reports. One report gives a 90% confidence interval for the mean hourly earnings of American workers
onsider a 3*3 matrix in which each entry is either 0; 1 or -1. Add up the sum of the three entries in each row, column and diagonal and form a list of the sums. Give an explic
“In the long run, there is no difference between monopolistic competition and perfect competition.” Discuss whether this statement is true, false, or ambiguous with respect to
A monopoly firm faces a demand curve given by P = 80 – Q and has a cost curve given by TC = 0.6Q^2. Specify and demonstrate its optimal output, price, and profits. Now suppose
Suppose a bank with a 25% reserve requirement has $50 million in reserves and $200 million in checkable deposits, and one of the bank's depositors, a major corporation, writes
(a) What is market concentration and how can you know whether a market is concentrated or not (b) What are the causes of market concentration (c) Are business mergers good o
Suppose you have been tasked with regulating a single monopoly firm that sells 50-pound bags of concrete. The firm has fixed costs of $10 million per year and a variable cost
Assume that the United States, as a steel importing nation, is large enough so that changes in the quantity of its imports influence the world price of steel. The U.S. supply
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