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1. What is the lemons problem? Is there a lemons problem with health insurance? Briefly explain.
2. Michael Kinsley, a political columnist, observes: "The idea of insurance is to share the risks of bad outcomes." In what sense does insurance involve sharing risks? How does the problem of adverse selection affect the ability of insurance to provide the benefit of sharing risk?
Source: Michael Kinsley, "Congress on Drugs," Slate, August 1, 2002.
What is the market price and market output of smoodie in the short run and how many smoodies does each firm produce an hour? What is the economic profit made or economic loss incurred by each firm? Explain and show how you calculated.
What impact does fiscal policies have on Blue Cross Blue Shield?
Which of the following statements is true of an arbitrator?
suppose that there is a cultural shift in america emphasizing the importance of saving money as opposed to current
Discuss the models Levitt and Fryer propose to explain the rise in distinctly Black names. (Ignorance, Price Theory, Signaling, and Identity) Which model do Fryer and Levitt argue best explains the rise? Explain
The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A marketing research firm recently developed the following supply and demand schedules for E-books:
consider a country called hitech where new arrangements for making payments such as credit cards and atms have been
part-1q1 externalities are third party consequence of some other action. they can be positive or negative externalities
If the level of incomes rises for high-income workers but doesn’t change for low-income workers,
What distinguishes the short-run from the long-run?
write an assessment of local economic development programs within your community. be sure to address key issues
opportunity cost is a very important economic notion. it is the cost of your next best opportunity. in economics this
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