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What necessarily happens to average quality in a hospital market when the generosity of insurance coverage increases? How does this relate, if at all, to the data about increases in hospital spending through time in the hospital sector?
Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 25%, 24%, 20%, 12%, 9%, 6%, and 4%. What is the Herfindahl index for the hamburger industry in this to..
Suppose a monopoly faces an inverse demand curve of P = 6 − Q and has constant marginal cost of 2. If the government is considering legislation that would regulate price to the competitive level, what is the maximum amount the monopoly would spend on..
How is this going to involve prices in the marketplace for New York City. Create sure to provide appropriate economic terms in your answers.
A unique aspect of a market economy is that consumers and firms change their behavior largely in response to:
Four separate cases involving similar fact situations were consolidated as they presented the same constitutional question. In each case, police officers, detectives, or prosecuting attorney's took a defendant into custody and interrogated him in a p..
The Australian government is concerned about inter-generational equity problems. Key problems arise from a larger number of older retired people being supported by a smaller workforce of young people, and from ever increasing budget deficits to be pa..
Suppose you can hire your mechanic for up to six hours. The total benefit and total cost functions are B(H)=420H-40H^2 and C(H)=100H+120H^2. The corresponding formulas for marginal benefit and marginal cost are MB(H)=420-80H and MC(H)=100+240H. Write..
Three years ago Maricopa County implemented a policy to tackle the problem of particulate matter in the air. The project/policy consisted in paving and compacting some of the roads the dairy industry uses for feeding the cattle and transporting the m..
Suppose a consumer’s preferences over goods 1 and 2 are represented by the utility function u(x, y) = (x+ y)^3. Draw an indifference curve for this consumer and indicate its slope.
The company you work for needs to rent a bulldozer for a job. The company has made a non-refundable deposit of the first month’s rent (equal to $1,000) on a 6-month lease for a bulldozer. Assuming the plan is to use the bulldozer for 6 months, and th..
After reading about the Golden Standard, William Jennings Bryan's emotional speech, write an essay analyzing what might have happened if William had won the the 1886 election in the United States?
Suppose the price of bippitybops is currently $120 per bippitybop, shown as point A on the initial graph. Because the price elasticity of demand between points A and B isinelastic , a $15-per-bippitybop decrease in price will lead to NO CHANGE? in to..
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