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The demand curve for a product is given by P = 400 - 1Q/3.
a. What is the own price elasticity of demand when price is $100? Is demand elastic or inelastic at this price? What would happen to the firm’s revenue if it decided to charge a price above $100?
b. What is the own price elasticity of demand when price is $300? Is demand elastic or inelastic at this price? What would happen to the firm’s revenue if it decided to charge a price below $300?
c. What price should you charge in order to maximize the firm’s revenue?
Individuals without health insurance impose substantial negative externalities on those who do. In a paragraph, list some of these externalities and briefly describe their signficance.
a. What is your expected income next year b. Suppose that you could insure yourself against the risk of reduced consumption next year. What would the actuarially fair insurance premium be
Describe why in competitive markets there can be profit or producer surplus in the short run but not the long run. Include the idea of "economic rent" for exceptionally productive inputs. Then imagine a firm with the same cost structure however in ea..
describe a single non-profit provider, describe a model that can be uses to predict the quantity of health care services provided. Identify the health economic issues of non-profit providers, state why non-profit providers or organizations are imp..
japan life insurance company invested 10000000 in pure-discount u.s. bonds in may 1995 when the exchange rate was 80
low income housing or subsidized housing in urban economics.the paper must be atleastten pages longmake sure that you
write a 1050- to 1400- word paper where you explain the following in the context of the simulation. one note these word
Explain who has a comparative advantage in the production of oranges and who has the advantage in the production of apples. (Show all math involved in your answer)
Compute GDPusing the Product Approach and using the Expenditure Approach
Over the business cycle, real GDP tends to increase during the expansion and decrease during the contraction. Can you name some other macro variables that fluctuate over the business cycle like GDP does?
Using the principles of supply and demand, develop a plan to alleviate the shortage of Math and Science teachers within this country. Try to use price and non-price determinants as your tools to reach equilibrium.
A decrease in the price level might cause: A. an increase in the quantity of aggregate demand because of the substitution effect. B. An increase in the quantity of aggregate demand because of the wealth effect. C. A decrease in the quantity of aggreg..
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