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Suppose a society consists of three cities (A, B , C. ) with populations of 99,000 , 51,000 , 6,000 people respectively. Suppose that the society has 15 doctors total.
a. What cities will have how many doctors?
b. If the number of doctors doubles to 30. How many will live in each city?
My professor didn't answer it when I asked if I had it correct... but his advice : Calculate the number of doctors per capita in each city for the answer you think is correct. If you cannot move doctors from one city to another in a way that allows that doctor to have more patients in the new city than in the old one, then they are in equilibrium.
If you were a strong supporter of free trade and in charge of U.S. international trade policy, would you cut tariffs and quotas, or would you negotiate with the nation's trading partners, maintaining trade barriers unless they lowered theirs also? Di..
Draw a graph that shows the marginal revenue product curves of the two franchises. Make sure your axes are properly labeled. Show the equilibrium level of competitive balance and the equilibrium level of player salaries.
The measured union wage differential will most likely understate the true amount by which unions are able to raise hourly compensation if which one of the following is not controlled for?
In the context of international financial crises, what mathematical methods have Economists employed in order to quantify financial contagion?
explain why a $100 billion increase in govermant purchases of goods and services will lead to a large increase in aggregate deamnd than a $100 billion decrease in taxes?
An individual utility function is given by U(c,h) = c.h, where c represents consumption during a typical day and h hours of leisure enjoyed during that day. The real hourly market wage rate the individual can earn is w = $20. This individual receives..
Explain how entrepreneurial policy makers can incorporate pragmatism practices into their public policy research. Have pragmatism practices changed in the last twenty years?
Two firms (A and B) are planning to produce a new soft drink for the summer. The soft drinks produced by the two firms can differ only in the level of sugar, aside from that they will be exactly equal. Suppose firm A chooses to produce a soft drink w..
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Assume that a 1- year discount bond (bond A) with a face value of $1,000 is currently trading at PV = $938.97, and another 2-year discount bond (bond B) with identical risk features and face value is currently trading at $834.01. Please calculate the..
How might increasing the level of government transfers reduce the size of the economic pie? Check all that apply. Greater transfer activity diverts productive resources into rent-seeking activity. Higher taxes may be necessary to finance increased tr..
Create a scenario around this business in which a manager would decide to either stop operations in the short-run or going out of business in the long-run.
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