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Suppose we allocate a budget for flu shots between physicians and licensed physician assistants. Let MBP equal the marginal benefit from physician administering flu shot and MCP equal the marginal cost of physician administering flu shot. Let MBA equal the marginal benefit from physician assistant administering flu shot and MCA equal the marginal cost of physician assistant administering flu shot. Currently, the MBP/MCP < MBA/MCA. We can correctly conclude that
too many flu shots are being given by physician assistants.
too many flu shots are being given by physicians.
too many flu shots are being given by physician assistants relative to physicians.
too many flu shots are being given by physicians relative to physician assistants.
an optimal allocation cannot be found.
Suppose the supply curve for a good shifts rightward, causing th equilibrium price to decrease. The decrease in the price of the good results in:
What would the annual percentage rate be if the city plans to make an interest payment of $2 million - The City of Phoenix plans to buy five additional mass transit cars for $15 million, and pay off its loan in 10 years.
When you describe the optimal conditions explain whether they apply across all industries or are peculiar to a particular industry. Are these times tested? That is, have these conditions occurred over the past 100 or more years and continue today pos..
We know that Keynes and Minsky both had a multipoint description of the trade, or business, cycle with Minsky being more detailed than Keynes. Using Keynes' elements of the trade cycle as major bullet points, as-sign Minsky's elements of the business..
q1. clarify how do you find the changes in quantity demand changes in quantity supplied changes in demand as well as
The Blue Dragon Restaurant is a new Chinese Restaurant in town. As the only Chinese restaurant in the area, it faces the following daily demand curve:
The marketplace is highly competitive, with boxes currently selling for $100 every thousand. Conigan's total and marginal cost curves.
Describe the economic status of South Korea. What types of economic activities are most prominent there? What factors have led to your region's growth or lack thereof?
You have studied the judicial branch of government, with emphasis on the Supreme Court, and the rulings they have made which have had wide-ranging effects on everyone in America. Describe the background of each of the two cases – the reason a case wa..
Which country's GDP is higher? Why?
At the end of 2012 the prestigious Rolex watch manufacturer had in inventory of watches worth $725 dollars. In 2013, Rolex produced $333 worth of watches and sold $260. What was the change in inventories in 2013? (Hint: careful with the signs, rememb..
Suppose that one company acquires all the suppliers in the industry and thereby creates a monopoly. Illustrate what are the monopolist's profit-maximizing price and total output.
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