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Which of the following is/are NOT (a) characteristic(s) of the Bismarck model?
a. the model uses risk rating instead of community rating
b. consumers are not mandated to have insurance
c. those who are very sick and do not report their illness during application will be rejected for insurance coverage
d. standards of care are not required
e. all of the above
Historical data suggests that in the athletic shoe industry, the price elasticity for shoes is approximately -0.67. Explain what price elasticity is, and how to interpret the stated elasticity for athletic shoes of -0.67. What effect would you expect..
The unemployment rate measures only the fraction of the labor force searching for work. Sometimes economists are interested in the length of time that unemployed have been out of work. One convenient summary measure is the median duration of unemploy..
Predatory pricing is easy to prove in court. Learning curve effects may enable an incumbent to produce at a lower cost than a potential entrant. A firm can benefit from strategies that raise the marginal costs of its rivals.
Based on information provided in my scenario, Illustrate what is value of marginal product. How many employees should you hire. Illustrate what wage should you set for your widget making employees.
how fiscal policy can ‘stabilize' economy. What about government borrowing and public debt.
You are being given data on supply also demand for the whole marketplace also are being asked illustrate what effect that has on you as a small part of that marketplace.
Should sports leagues be allowed to remain as cartels? More than 100 years ago, the American legislative leaders decided that it was necessary to pass laws prohibiting "...any combinations or conspiracies in restraint of trade." However, the professi..
Apple has chosen to have the components for the iPhone manufactured by more than 30 companies around the world, as opposed to producing everything itself. Address the three basic economic questions: How does this choice determine what, how, and for w..
Apply supply and demand analysis to price determination and predict changes in supply and/or demand Analyze the effects of elasticity on consumer and business behavior
An incoming engineering student (age 18) expects to get a job that pays $53700 per year starting four years from now, and can reasonably expect that that salary will increase at a rate of 3.6% per year throughout his career. If he is planning to reti..
According to the law of increasing opportunity cost,
Consider the following after-tax cash flows: Compute the future worth’s of the projects at the end of period 7. Assume that the required service period is seven years and that the company is considering a comparable equipment that has an annual lease..
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