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Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this flu decreases as more people receive the vaccine.
a. Private incentives will lead to ______ people receiving the vaccine at a cost of ___.
b. If the flu vaccine is provided by private markets, deadweight loss will be ________.
c. The socially optimal number of vaccines is _____. This externality could most effectively be corrected by _______________________.
microeconomic monopolya monopolist faces the following demand function for its product q 45 - 5p the fixed costs of
What ar the prices charged, total product shipped to each market, and the total profits to the monopolist under the following two conditions?
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Choose an article in a newspaper or magazine that discusses a United States government policy on goods or services.
Consider the utility function \(U(x,y) = y\sqrt{x}\) a)Does the consumer believe that more is better for each good? b)Do the consumer's preferences exhibit a diminishing marginal utility of x? Is the marginal utility of y diminishing?
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calculate the point elasticity of demand for a drug when the average income in the community equals 50000 and price of
Compare the work and formulas for computation of Expected Value, Absolute Risk Measurement, and Relative Risk for both projects.
Elderly population is growing more rapidly than the total population - the number of workers is rising slowly, retirees are rising quickly. If total expenditure were frozen, what would happen to benefits per retiree
public policies often alter the costs and benefits of private actions. why is it important for policymakers to consider
Decentralizing decision rights marries authority with local knowledge. This would seem to be a good thing, but a problem that may arise is that: local managers may have too strong a corporate identification.
Name and discuss the four major theories that address the term structure of interest rates. In your discussion, indicate the strengths and weaknesses of each of the theories and which theory or theories appear to be the best accepted as explanations ..
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