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The market for health insurance and the market for health care are two market which are plagued with two source of market failure. This discussion will help you explain the difference in these markets.First, explain the problem of asymmetic information in the market. Then consider, we tolerate a high degree of monopoly power in the market for doctor services in the form of AMA orver site, testing and licensing of doctors. How is asymmetric information at the root of this problems? Should the monopoly power of doctors be reduced or eliminated?Discuss market innovations that have lowered the cost for the type of health services traditionally performed by doctors.
the oil price schok of 1980 sent gasoline prices sharply higher. Coal prices moved in sympathy with oil prices, with the result, that coal companiesearned pure economic profits. Since coal is homogenous good and the market is competitive , what ha..
Many monopolies are constructed by governmental legislation. like post office, local water company, local gas company, cable TV provider, local electric company.
Show that if oil is produced from two reservoirs, one with high marginal cost and one with low marginal cost, it is not possible for the Hotelling rule to be satisfied for each reservoir simultaneously. Give two reasons that oil might be produced ..
One of the stages of economic growth is capital intensive, where wealth is created throught the efficient use of money and industrial manufacturing occurs. what latin american country fits into this stage and why.
Trade Restrictions Effects on Exchange Rates. Suppose that the Japanese government relaxes its controls on imports through Japanese firm.
A monopolist sells in two geographically divided markets, the East and West. Marginal cost is constant at $50 in both markets. Demand and marginal revenue in each and every market are as follows:
The "Baby Boomers" are in their retirement age. What affect might this have on the productive capacity of a country's labor force.
What price will consumers pay after the tax is levied and what proportion of the tax will be paid by the suppliers of Martin guitars?
How much would Wyandotte have to reduce the price of polyol to achieve a 15 percent increase in the quantity sold? Evaluate the impact of such a price cut on(i) total revenue, (ii)total costs, and (iii)total profits.
Find the quantity, price and profits in equilibrium. Calculate the consumer surplus. Are consumers better off or worse off in this situation than in (a)?
characterize the long run equilibrium of a perfectly competitive industry in which average costs are U-shaped as output increases, under both restricted and free entry.
What are the primary differences between industrial users and home users of electricity that allow the utilities to discriminate between the two markets in terms of price? How do we compensate for these differences in order to improve the "common ..
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