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Ranking everyone by the amount spent on medical care, 30 percent of the total (all expenditures for all people) is accounted for by the top 1 percent of patients. Take the overall average per capita personal health expenditure and determine how much on average is spent on each of these high-cost patients. The top half of the population accounts for 90 percent of total spending. What is the average amount spent on the remaining people in the bottom half of the distribution? Is the median (i.e., amount spent on the person who is at the middle of distribution, with half of all people spending more, and half of all people spending less) higher or lower than the mean?
q1. mark consumes only cookies and books. at his current consumption bundle his marginal utility from books is 10 and
You can now think of the firm as using two additional inputs, pollution vouchers and smokestack filters, to produce x output legally. Does the overall production technology now have increasing, constant, or decreasing returns to scale?
An energy management system that can save $7,500 per year for four (4) years, expenses are $2,000 per year, can be installed at a cost of $20,000. At the end of four (4) it is expected to be sold for $1,250. Using the end of year convention, the rate..
You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?
An on-line retailer sells 12,000 pairs of shoes each month. A pair of shoes costs $50 on average, and the retailer incurs an annual inventory carrying rate of 52 percent. For what value of fixed cost per order would an order size of 8,000 units per r..
What kinds of actions can/should the Federal Reserve take in the event that the economy falls into a recession? Why might these actions help bring the economy out of the recession?
Compute what happens to the quantity of K. Your answer must include the appropriate sign. Correctly round your answer to 2 decimal places. Do NOT include the percent sign as part of your answer.
It has been argued that in the long run monopolistic competition is inefficient because
Explain how much pollution reduction should Appalachian Coal Mining undertake.
Suppose when you are 21 years old, you deposited $1000 into a bank account that pays annual compound interest, and you do not withdraw from the account until your retirement at the age 65, 44 years later. How much more will be in your account if the ..
Explain the impact of each of the following upon commercial bank reserves: (a) the Federal Reserve sells government bonds in the open market to private buyers;
Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers. The fixed costs for the plane are $3,000 per day whether it flies or not. A) S..
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