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A recent report indicated that 50 intensive-care unit patients die for every 1,000 who are managed with a heart device known as the right heart catheter. Suppose as a result, the FDA limited supply of the heart catheters. Draw the likely effect of the report and subsequent action by the FDA on the market fo rright heart catheters.
Elucidate who decides whether these particular products should continue to be produced and offered for sale. How do these decisions differ between capitalist and socialist systems.
The demand for polished bronze is given by P = 100 - Q/2. Production of polished bronze is controlled by Bronze Indentify BIs profit maximizing output and price. What is the cost to the town of removing the mercury pollution?
Determine some of the models that predict the EFFECT that decreasing protection of imports will have on FACTOR PRICES? Briefly describe the effects shown by these models.
Keynesian thinking dominated US (and other developed-country) policy-making well into the 1970s, although the "classical" counter-arguments kept up a steady criticism:
Determine the Groups Share of and the Income Split Point for Individual Income Taxes as of 2003 for the following group of income earners:
In the class, we discussed the Paradox of Thrift argued by John Maynard Keynes. According to the argument, even if many household decide at the same time to increase their saving, the total saving will not increase in the long run, while it leads ..
Compute mean, standard deviation & CV of sales. The demand for MICHTEC's products is related to the state of the economy.
As a monopoly is the only source of supply, consumers are entirely at its mercy. There is no limit to the price the monopoly can chargeâ. Evaluate this statement.
Assume the utility function is not the square root of income but instead, utility is linear in income.
You can lease the similar piece of equipment, delivered and installed, for an all-in cost of $65,000 per year, for three years, payable at the beginning of each year.
In early 2001 investment spending sharply declined in the United States. In the 2 months following the September 11, 2001, attacks on the United States, consumption also declined. Use AD-AS analysis to show the two impacts on real GDP.
Explain why would economists be very concerned if the annual interest payments on the debt sharply increased as a percentage of GDP.
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